Mississippi Development Authority trying to force KiOR into liquidation

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 the case should be converted to Chapter 7 liquidation instead of Chapter 11.