Trustee doesn’t believe KiOR will have enough money to be viable post Chapter 11

May 27, 2015 |

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 million for payroll but the trustee says it’s not enough to sort out their technology to make it work.

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