Loyalty, in the entourage of Palm Beach billionaire Bill Koch, is a rare commodity, if you believe a stunning lawsuit quietly filed in Delaware this summer.
In the paperwork, Koch admitted he almost lost control of Oxbow, the West Palm Beach energy company he started 33 years ago, in a coup attempt supported by board members and a former county elected official acting as a “mole.”
Indeed, the lawsuit unmasked Oxbow’s own general counsel at the time, former Palm Beach County State Attorney Michael McAuliffe, as one of the plotters on a “secret mission” to get rid of Koch and clear the way for a sale of the company.
And now the oft-litigious Koch, 76 , the brother of Tea Party sugar daddies David and Charles Koch, is striking back.
He sued an equity company, current Oxbow directors Barry Volpert and Robert Hurst and two former directors for break of fiduciary duty.
Eric Johnson, who was Oxbow president and COO when Koch fired him in June, is also named as a defendant.
Disclaimer
Artificial Intelligence Disclosure & Legal Disclaimer
AI Content Policy.
To provide our readers with timely and comprehensive coverage, South Florida Reporter uses artificial intelligence (AI) to assist in producing certain articles and visual content.
Articles: AI may be used to assist in research, structural drafting, or data analysis. All AI-assisted text is reviewed and edited by our team to ensure accuracy and adherence to our editorial standards.
Images: Any imagery generated or significantly altered by AI is clearly marked with a disclaimer or watermark to distinguish it from traditional photography or editorial illustrations.
General Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service. In no event shall South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service.
The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice. The Company does not warrant that the Service is free of viruses or other harmful components.
