Posted on 07/14/2022 1:31:01 AM PDT by DeathBeforeDishonor1
Ohio’s Oberlin college is now on the hook for more than $4 million in interest fees, after it failed to pay out the more than $30 million owed for libel damages to a local bakery.
Oberlin’s problems started in 2016, when a former dean at the school promoted claims that the family-run bakery was “racist” after an altercation between an employee and three black students from the college. For some inexplicable reason, leftists absolutely hate local bakeries, and go out of their way to destroy them.
In this case, Gibson’s Bakery took the matter to court, and was awarded a $31.6 million judgment in 2019. That amount has increased to over $36 million, which accounts for the $4,300-per-day interest that has accumulated over the years that the college has refused to pay. Now, according to the local newspaper The Chronicle, the Gibson family is demanding that the college quit screwing around and pay up.
(Excerpt) Read more at bizpacreview.com ...
Exactly, I wonder if a majority of the campus buildings are worth 36 million
They aren’t fines. This is interest on a debt, so it goes to the recipient.
This is an interesting test case.
I predict Oberlin will wind up paying zero dollars and they may recover damages from the storekeepers.
Yep. Start with the Administration building.
I love the Woke leadership of the college fighting a losing battle, after all it’s not their money at risk. Once the upper court reaffirms the ruling, then the college Board of Directors needs to take two steps. 1. Enter into an agreement to payoff the judgment. 2. Fire the college leadership who caused this problem and financial impact. Maybe also sue them to recoup some of the money paid them.... 🤣
Some of you may say sue on what grounds? Who cares, it’s Lawfare! Attack! Use the Woke leaders tactics against them..... Bled them financially with level costs!
I like “Gibson College”.
“ Once the upper court reaffirms the ruling”
My grandma (PBUH) taught in NYC Public for 55 years, and was full of wisdom.
One of her favorite things to say was “don’t count your chickens before they hatch”.
Why do all of these people look like fruit cakes?
Why are most liberal women just plain butt ugly?
When we have a republican president and congress, we should prohibit the use of taxpayer money for loans or grants until the judgement is satisfied. I’m not holding my breath.
check out the following site which covers this case:
https://legalinsurrection.com/2022/06/gibsons-bakery-moves-to-collect-on-36-million-surety-bond-oberlin-college-seeks-stay-in-ohio-supreme-court/
“ When we have a republican president and congress, we should prohibit”
You think a lot more of them than I do.
They figure time is on their side and eventually they’ll find a sympathetic judge.
I expect Oberlin will keep running up the interest until need to file for bankruptcy. I would love to see Oberlin become a second campus for Hillsdale College.
Interestingly, Oberlin couldn’t pay the settlement today even if they wanted to. One of the conditions imposed by Zurich in the bond contract is that Oberlin must exhaust all of its appeals before the bond can be paid.
So the bakery family isn’t really fighting the school to get the money released. They’re fighting Zurich.
Owe $4 million in interest fees.
Academic minds at work.
Exactly.
As one poster said: pay up morons or the sheriff will start padlocking the dormitories.
A few liens here and there, a few attachments here and there would be fun to watch.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.