"F___ You! Pay Me!"
Posted on 06/14/2019 12:33:40 PM PDT by detective
Although IRS reports show the university is worth around $1 billion, Oberlin College still claimed poverty to avoid paying punitive damages to Gibson’s Bakery.
As Breitbart News reported this week, the far-left Oberlin College lost a defamation case filed by Gibson’s Bakery after a local jury found the university liable for falsely accusing the family bakery of racism.
The jury ordered Oberlin on Friday to pay Gibson’s $11.2 million in compensatory damages for defamation and intentional interference with a business.
Legal Insurrection reported on Thursday that “the jury awarded a total of $33 million in punitive damages, which will probably be reduced by the court to $22 million because of the state law cap at twice compensatory.”
Legal Insurrection has been following the case for two years — since the beginning — and reports that the school’s only defense against a sizable punitive award is to pretend it is poor, despite holding assets that amount to a billion — with a “b” — dollars and despite paying some of its staffers more than a half-million dollars a year
(Excerpt) Read more at breitbart.com ...
The college has more than $1 billion in funds and net assets according to the latest IRS 990 form, an endowment fund that had grown from $440 million to $887 million in the last 20 years, and because of its non-profit status, pays no taxes on any property it owns.
It also had 18 members of their administration making more than $100,00 a year. The president and chief financial officer of the school were both making more than $500,000 a year.
They need someone to help them find their checkbook..
Ludicrous......If they claim this in court, the judge will laugh in their faces............
Close it down then!
President of Oberlin is saying they’ll continue fight for years if necessary....
Viscious lawfare designed to bankrupt plaintiffs.... Beware what you wish for...judgement accrues interest.
Oberlin College to pay bakery the now-massive sum of $44M over racism dispute:
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https://www.foxnews.com/us/oberlin-college-to-pay-bakery-the-now-massive-sum-of-more-than-44m-over-racism-dispute
"F___ You! Pay Me!"
Let Alumni pick up the tab
Then they can discuss their new take on academic ‘bias’
Fine. Don’t pay. Then the plaintiffs will get a judgment, execute it, and begin selling off the school’s assets as recovery. Aside from that, no sane judge would grant bankruptcy protection. In fact the court might even sanction them if they attempted it.
Hopefully, the trial judge will appoint a financial master to help Oberlin liquidate their meager assets.
I think I read somewhere that, given the size of the judgement, interest accrued under appeal the first year would increase the judgment payout at the rate $950 an hour. And for the following year, given the new engorgement, the cost would be even higher.
So it’s not capped at 22 million?
Being cashflow challenged is not the same as being broke. University Counsel has certainly been ham-handed enough in this entire affair to try it, but I sure wouldn’t bet on any success. What she put in the now notorious letter to the alums is that a large verdict would prevent scholarships, which is an appeal to sympathy for the poor on the part of people who just did their level best to bludgeon a bakery out of business. Best of luck convincing anyone on that count.
5,000 student liberal arts college w/o insurance for this award will get wiped off the map. Maybe that would be a message to other guilty till proven innocent mob mentality SJW nut cases out there.
Just one facet was................
Sign over the deed then.
Throw them in jail for contempt and fraud
Maybe they lied on their tax forms.
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