DaveD and Yggdrasil,
Thanks, for some nice input. I am going to try your suggestions.
My compound is highly polar. Decreasing the polarity of the organic phase might create some problems with the solubility of my product. Anyways, I will give a try.
I was reading in someone's thesis, that addition 1N HCl and sod.thiosulfate, during the workup would help. Let me know your comments.