Remainder of the production plant goes to auction next week In Iowa, a subsidiary of Renewable Energy Group has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus, LLC production facility. Under the approved asset purchase agreement, REG Synthetic Fuels, LLC paid $1.5M, plus certain expenses related to equipment preparation, […]
In Mississippi, REG Synthetic Fuels is paying $1.5 million for refining equipment from the former KiOR biofuel plant in Columbus while Georgia Renewable Fuels is paying an undisclosed price for wood-processing equipment after a judge approved the sales. GNF is waiting for court permission to locate its wood chipping plant either at the site of […]
In Delaware, a US Bankruptcy Court judge has ruled just a day after finding that KiOR’s bankruptcy plan had too many milestones attached to its $29 million exit facility to go ahead, that the new Chapter 11 plan without said milestones is just fine. The Mississippi Development Authority was pushing to get the Chapter 11 […]
In Delaware, hearings resume this week in the US Bankruptcy Court in Wilmington for KiOR’s bankruptcy case where the Mississippi Development Authority is trying to keep the company’s bankruptcy restructuring plan from getting approved. The MDA wants the company to be converted to Chapter 7 from Chapter 11.
In Delaware, Acting U.S. Trustee Andrew Vara says KiOR shouldn’t be allowed it implement its bankruptcy reorganization plan to leave Chapter 11, saying it won’t have enough money to be a viable business. According to the plan, the company will have $30 million in exit financing with about $7 million going to creditors and $10 […]
In Mississippi, a Jackson lawyer was appointed by a Lowndes County judge as receiver of the KiOR Columbus plant at the request of Vinod Khosla. The receiver will be paid by the Mississippi Development Authority and will be in place until Aug. 1.
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.
In Delaware, KiOR says it canceled its bankruptcy auction set for last Friday because it received no qualified bids other than the $16 million debt-for-equity swap that senior lenders put forward included in its Chapter 11 plan. The company and those owned by majority shareholder Vinod Khosla say the Mississippi Development Agency is pursuing aggressive […]
In Mississippi, the Mississippi Development Authority is displeased with KiOR’s plans to sell the rest of the company back to Vinod Khosla as part of its Chapter 11 restructuring, saying the move allows the original owners to keep the value while dumping the debt. The agency has told the bankruptcy court in Wilmington, DE that […]
In Texas, KiOR announced that as part of its refocus on research and development, it has accepted a bid for substantially all of its assets from certain affiliates of Vinod Khosla that have been providing and will continue to provide senior secured financing to the Company. The Company has also filed for relief under Chapter […]
