Posted on 07/26/2019 9:11:35 AM PDT by libstripper
ELYRIA — Lorain County Common Pleas Judge John Miraldi has ordered Oberlin College to post a $36 million appeal bond before he stays execution of the multimillion-dollar judgment recently won against the college by Gibson’s Bakery and the Gibson family.
Attorneys for the Gibsons had requested the college post a bond worth $36,367,711.56, representing the total amount of judgments against the college, plus interest, awarded by a jury and Miraldi following a six-week trial that lasted from late May into early June.
(Excerpt) Read more at chroniclet.com ...
It would be wonderful if it forced the communist indoctrination center to close.
$887M endowment. This is going to hurt, but they can do it. They just don’t want to.
They have the money.
They have a huge endowment.
Well, when I look at the posted $887 million public figure, I wonder how much of that has been squandered by the dean who is now fighting to keep the real much lower value from being exposed.
Think Bernies wife and squandered universithy money.
Almost $ 10 K a day in interest will be added if they lose the appeal...and more legal fees. Who was fired at this kindergarten for slandering innocent people ?
Wow.
This is great.
The endowments are probably mostly restricted - only the income would be available to the university. But donors can unrestrict their contributions, which I think some donors have offered to do.
The administration doesn’t care. None of them will be fired for this expensive screw up, it’s not their money and the president still collects her $500,000 salary.
And they will continue on with the indoctrination of students.
Wokeness outweighs awareness.
This is win win. If the bond isn’t posted then the bakery can start collecting on Oberlien’s assets. If the bond is posted and Oberlien loses the appeal the money is right there for the bakery - they don’t have to chase it down through the courts.
Fork up the money Orberlin.
I guess this is in Ohio.
It was also a nest of abolitionists in antebellum days and freedom riders 100 years later
Plenty Freepers laud that legacy trumpeted from their virtue signaling minarets
Trust me
One thing about endowment money is that a lot of it is encumbered. It’s not a checking account. A lot of it was given to support specific programs or scholarships and is not available to go toward other endeavors, legally.
So while their endowment seems very large for such a small school, a loss like this will have a meaningful impact on their financials, because it will chew up a lot of their discretionary capital. Couldn’t happen to a nicer bunch of jerks, of course.
Pay up or shut down
I’m waiting for Nick Sandman to be awarded ‘CNN’ in his suit.
Then every airport in America could run a continuous loop of his smiling face, which would drive the liberals nuts!
This is standard procedure to appeal any money judgment, to protect the judgment creditor. The Oberlin libs probably figured they were exempt from this law, too.
How much will Gibson’s Bakery sell Oberlin College for when it receives it in the settlement ,LOL
Miraldi also gave Oberlin College until Aug. 19 to file post-trial motions if they wish to extend the stay of judgment further, to Sept. 9.
Attorneys for the Gibsons will have 14 days from Aug. 19 to respond to Oberlin College’s motions. Miraldi wrote that he would rule on Oberlin College’s motions by Sept. 9.
So far Oberlin's legal team has cost the college $36 million and now has five days - three working days counting the weekend - to file their appeal. If there's a master plan here, I'm not seeing it.
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