On Wednesday, biofuel maker KiOR Inc. will go before a Wilmington, Del., bankruptcy judge to seek final approval of its chapter 11 reorganization plan.
Under the proposed plan, KiOR will turn over control of its business to lender Pasadena Investments LLC—a company affiliated with venture capitalist and KiOR co-founder Vinod Khosla—in exchange for $16 million in debt forgiveness.
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