Justice: Gibson’s Bakery v. Oberlin College

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Judge Orders Oberlin To Post $36 Million Bond Since It Refuses To Pay Defamed Bakery

Post by mediatechnology » Sat Jul 27, 2019 2:01 pm

Judge Orders Oberlin To Post $36 Million Bond Since It Refuses To Pay Defamed Bakery

https://www.zerohedge.com/news/2019-07- ... med-bakery
At trial, and in its recent filing, the College represented that there was only $59.1 million of unrestricted endowment funds available to pay any dollar judgment and that $10 million of those funds had already been committed to pay down the College’s existing debt. [Trial Tr., June 12, 2019 at 95:13-21] There remains $190 million of existing debt on the College’s books. [Id.] The College has also testified that it has a significant operating deficit and that its deficit situation is not sustainable…. [Trial Tr., June 12, 2019 atpp. 86:1-6, 88:1-9]
Oberlin also highlighted its plunging enrollment at trial. Gibson’s warned that Oberlin could “attempt to continue using its available funds to pay down its other debts between now and the filing of a notice of appeal, thereby leaving less available to pay the judgment in this case.”
Oberlin did this to themselves...

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