I seem to remember reading that someone at Oberlin said they had no intention of paying and were never going to pay.
That certainly seems to be how they're playing it.
Time to haul off all of the big wigs from that pathetic institution and jail them until they pay, just as it would happen to we little people.
There is appeal bond with the court.
Al the court has to do is release it.
But that wouldn’t be the end of the story. If Zurich pays out for the settlement, it will then turn around and seize assets from the college to cover their loss. I can assure you that a major insurance company like Zurich will have little patience — and plenty of legal resources at its disposal — to get its money back from a renegade scofflaw like Oberlin that doesn’t meet its legal obligations.
“I seem to remember reading that someone at Oberlin said they had no intention of paying and were never going to pay.”
From Oberlin’s website re Oberlin’s endowment:
“Total endowed funds as of June 30, 2020 were $937.0 million, as compared to $925.0 million the previous year, an increase of $12.0 million. In comparison, total endowed funds increased by $37.6 million in the fiscal year ended June 30, 2019, from $887.4 million at June 30, 2018.”
IF that doesn’t work, I think a write of attachment attaching tuition payments from students and student loan direct payments from the federal government will do the trick. Also, calleges get tons of money from grants. It would be pretty easy to find out the grantors and then attach the stream of money coming in on the grants.
And it that doesn’t work, wouldn’t it be nice to sell the administration building for pennies on the dollar? And then the music building and then . . .
And what about those athletic trophies from 1910. They must have some value.
This is a target rich environment for attorneys who have done post-judgment collections.
Of course with an appeals bond, none of that matters. Oberlin’s insurance company will pay and Oberlin will pay the insurance company.