The Delaware Supreme Court reversed a Chancery Court decision that would have forced billionaire William I. Koch to sell his $2.5 billion energy company based in West Palm Beach to allow two private equity firms to recoup their investments.

Vice Chancellor J. Travis Laster misconstrued Oxbow Carbon LLC’s agreement when he ruled last February that Crestview Partners and Load Line Capital LLC could pursue the company’s sale, a full panel of the high court said. They claimed that’s what they bargained for when they invested in 2007.