Posts Tagged ‘Vinod Khosla’

Judge names receiver for KiOR plant, but tax payment unclear

JACKSON — A Lowndes County judge has appointed a receiver to watch over KiOR’s Columbus biofuel refinery, as owners and creditors seek a buyer. Chancery Judge Kenneth Burns on Monday named Derek Henderson, a Jackson lawyer who serves as a trustee in bankruptcy cases, as the receiver for the plant. The move came at the […] [...]

State’s ventures into alt-fuel markets net few jobs

Update: An earlier version of this article misstated that Khosla had controlled three companies, which was reflected in a headline.     By Jack Weatherly Solar-panel maker Stion Corp. is the only one of three alternative-energy companies that received a total of about $175 million in loans, plus other financial backing from the state of Mississippi […] [...]

Khosla seeks KiOR plant receiver, says Miss. ran off buyer

JACKSON — KiOR financier Vinod Khosla is asking a Mississippi state court judge to name a receiver for the company’s Columbus plant, at the same time that he’s accusing the state of scaring off a potential buyer for the shuttered biofuel refinery. Companies controlled by Khosla filed the motion Friday in Lowndes County Chancery Court, […] [...]

Mississippi tries to force KiOR into liquidation

JACKSON — The state of Mississippi is trying to force biofuel maker KiOR into liquidation. The company filed for Chapter 11 reorganization last year, with plans for controlling shareholder and financier Vinod Khosla to buy what’s left of the company. But the Mississippi Development Authority says that’s an inappropriate attempt to dump debt while allowing […] [...]

Analyst: KiOR Columbus plant may end up sold as scrap

By Jack weatherly jack.weatherly@msbusiness.com   Finding a buyer for the idled KiOR biofuels plant at Columbus would be a tough sell, according to Pavel Molchanov, an equity analyst who had covered Pasadena, Texas-based KiOR Inc. until it filed for bankruptcy protection on Nov. 9. The state will be fortunate to recoup 10 percent to 15 […] [...]

KiOR intends to find buyer for bankrupt plant

KiOR Inc., a biofuels manufacturer, is seeking bankruptcy reorganization, though its Columbus facility was left out of the filing, giving rise to hopes that a buyer may be found for it. KiOR said in its Chapter 11 filing Sunday night in the U.S. Bankruptcy Court in Delaware that it does intend to find a buyer […] [...]

KiOR files for bankruptcy, but Columbus plant isn’t included

COLUMBUS — Biofuel maker KiOR Inc. has filed for bankruptcy, although its Mississippi subsidiary has not, preserving the chance that its Columbus plant could be sold quickly. The company, based in Pasadena, Texas, filed for Chapter 11 bankruptcy protection late Sunday in U.S. Bankruptcy Court in Delaware, where it’s incorporated. KiOR defaulted on a loan from […] [...]

KiOR: Money will run out next of money month, bankruptcy possible

COLUMBUS — Struggling biofuel firm KiOR says in a financial filing that it will run out of money by September and that bankruptcy could follow. The company, which built a refinery in Columbus to turn wood chips into synthetic oil, owes Mississippi $69.4 million. The Mississippi Development Authority has agreed to delay payments until the […] [...]

KiOR retains investment bank to explore sale or restructuring

COLUMBUS — Struggling biofuel maker KiOR, deeply in debt to the state of Mississippi and others, says it has hired an investment bank to try to sell or restructure the company. KiOR, based in Pasadena, Texas, announced it had hired Guggenheim Partners in a yesterday stock filing. KiOR’s cash level is unclear, but the company […] [...]

ANALYSIS — Mississippi has big money invested in KiOR’s financially challenged project

The eyes of the international renewable-fuels community are fixed on KiOR (NASDAQ:KIOR), a Texas-based company in which Mississippi has a large stake — specifically a $75 million interest-free loan administered by the Mississippi Development Authority. KiOR plans to build five plants in Mississippi that should convert wood chips to renewable crude through a process called […] [...]

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