US Bankruptcy judge gives OK to KiOR’s $15 million debtor-in-possession plan

In Delaware, a judge at the U.S. Bankruptcy Court in Wilmington has approved KiOR’s $15 million debtor-in-possession financing facility despite objections by the Mississippi Development Authority. The MDA has been trying to convince the court that the company should not get Chapter 11 bankruptcy protection but instead Chapter 7 liquidation.