Trustee doesn’t believe KiOR will have enough money to be viable post 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 million for payroll but the trustee says it’s not enough to sort out their technology to make it work.

Category: Fuels