Mississippi ready to call in KiOR’s entire loan and interest if deadline missed

November 4, 2014 |

In Mississippi, the state is playing tough with KiOR, saying that if the Wednesday midnight deadline is missed for a $1.9 million loan payment that was due last Friday, it will accelerate the payment of loan so that the entire remaining principle of $69.4 million along with $8 million in interest become due immediately. If that happens, it will force both KiOR and KiOR Columbus LLC into bankruptcy as the state claims first rights to the facility’s assets.

 

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