Billionaire Bill Koch Doesn’t Have to Sell His Oxbow Carbon
- Delaware Supreme Court reverses order for sale of company
- Two investors sought forced sale of petroleum-coke producer
William Koch, founder and chief executive officer of Oxbow Carbon & Minerals LLC
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Billionaire Bill Koch doesn’t have to sell his Oxbow Carbon LLC so two private equity firms can recoup an investment of more than $250 million in the energy company, an appeals court ruled, reversing a lower-court order.
The Delaware Supreme Court said Thursday that a trial judge misconstrued an investment agreement when he ruled that Crestview Partners LLC and Load Line Capital LLC could force the sale of Oxbow.