Posted on 07/24/2019 11:53:52 PM PDT by House Atreides
Judge granted Oberlin College’s motion to stay execution of the judgment, but required the posting of a bond in the amount of the judgment plus three years interest as security.
The compensatory and punitive damages of $25 million (after reduction for tort reform caps), plus the over $6.5 million in attorney’s fees and costs, put Oberlin College almost $32 million in debt to Gibson’s Bakery and its owners.
Absent some judicial action, the next step would have been for the Gibsons to execute on the judgment, meaning start collecting the money through post-judgment remedies, such as seizing bank accounts and physical property.
Oberlin College, which intends to appeal once post-trial motions are over, obviously doesn’t want its bank accounts, computer equipment, and er, Dean of Students’ office furniture, seized just as the freshman class was arriving. So Oberlin College filed a motion for a stay of execution of the judgment until such time as it can appeal and obtain an appeal bond.
(Excerpt) Read more at legalinsurrection.com ...
The feel-good story of the year.
They can also ask all the administration and teachers work for free this year. They are all Liberals, so I'm certain they'll do it!
Punch...back...twice...as...hard! The only thing that could improve this story is to read the college is closing.
JoMa
Bakery? Why run a bakery and get sued or forced to make a homo cake. Suing colleges is much more fun and profitable, and you end up doing it anyway to avoid making a homo cake.
Trump promised winning but sometimes I gotta pinch myself.
Never would have thought this was even possible.
This particular case is different from the perpetual gay wedding cake dramas. It’s a bakery defamed by a College as a racist enterprise, because they charged some students with shoplifting. The college made statements that the guilt or innocence of the students didn’t matter, as it was racial profiling.
The compensatory and punitive damages of $25 million (after reduction for tort reform caps), plus the over $6.5 million in attorney’s fees and costs, put Oberlin College almost $32 million in debt to Gibson’s Bakery and its owners.
Thanks House Atreides.
$32 million -- that's still a lot of, uh, bread..
No more accepting defeat with almost gleeful gentlemanly manners for our side.
Hit back and hit hard
Oberlin has an endowment in the HUNDREDS of millions of dollars AND a campus of real estate and other holdings to attach and sell.
They are fighting on principle.
They probably have the support of every other leftist institution which all know that they too can be targets.
Don’t open a bakery. Don’t open any business within a 20-mile radius of a college campus. This is beyond insanity. I take it they were guilty.
The federal prosecutor for that district ought to press civil rights charges against the ringleaders.
You might be interested in learning that Gibson’s Bakery is a 134-year-old, fifth-generation family business. So they’ve been at this for quite some time before this new racism nonsense started. Yes, the students in question were guilty of shoplifting.
I hope the judge doesn’t let Oberlin weasel their way out of this by postponing payment. Their endowment is over $880 million dollars.
Read the article. Oberlin only has $59 million in unrestricted funds, and over $190 million in debt. The reasonable concern is that without posting the bond, Oberlin would use the $59 million to pay down debt, or they could just spend it. Trying to claw it back would be another hassle for the Gibsons.
The funny thing is that it appears that the Gibson lawyers only asked for simple interest, 15% for 5% over three years, instead of compound interest, 15.76% for 5% over three years, compounded annually. Maybe the law does not allow for compound interest.
Regardless, this is so sweet. Even if Oberlin has a chance of prevailing on appeal, or getting a reduction, they would be wise to take any compromise available.
59 million minus 34 million....
Pay the debt, close the college and auction off the buildings and assets..
A message to all universities, Its a shame this doesn’t happen on a larger scale
This needs to be taken right to the bone, so every organization with leftist totalitarian fascist administrators and minority heads, will be put on notice.
They will all lose big.
what does it mean unrestricted funds?
Much of the endowment may be in funds directed to things like endowed chairs (teaching jobs), the library, art collection. You get the picture. When Tufts got ripped off by Bernie Madoff, they had to go to court to sell some of their art collection (against the late donors express wishes) to keep the doors open.
and Oberlin may have to dip into restricted funds and make people unhappy, not our problem
They need to be burned to the ground metaphorically, to impress upon the leftists that messing with us means loss, big loss.
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