Oberlin College ordered to pay MILLIONS MORE in bakery defamation suit

[rangerrebew]

 Oberlin College ordered to pay MILLIONS MORE in bakery defamation suit
Jon Street
 
on Jul 19, 2019 at 12:00 PM EDT
 

    Oberlin College has been ordered to pay an additional $6.5 million in attorneys fees and court costs.

    The amount is in addition to the $25 million it must pay in damages to Gibson's Bakery.

https://www.campusreform.org/?ID=13470

[rangerrebew]

Hopefully this will be the book that breaks the educated camel's back.

[PeteS in CA]

Oberlin College ordered to post $36 million bond to delay Gibson’s Bakery collection of Judgment

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.

It probably isn't the full judgment amount, but it does tie up some of Oberlin's $$.

[Bill Cipher]

If it’s anything like bail bonds, they’ll have to put up 10% in cash to get the bond. 

[PeteS in CA]

If it’s anything like bail bonds, they’ll have to put up 10% in cash to get the bond.

I lack experience in that area (hopefully most/all of us'ns lack that experience) but was pretty sure it would be something fractional like that.

[skeeter]

 Has the university fired the bulldigger that set the whole thing off yet?

[Bill Cipher]

Has the university fired the bulldigger that set the whole thing off yet?

Probably not. 

[truth_seeker]

can endowments be revoked?

[Bill Cipher]

can endowments be revoked?

Sometimes.  It depends on the terms of the original gift. 

[Fishrrman]

If those at Oberlin in charge of handling this suit were smart, they'd make an $18-20 million offer to the Gibsons, which they'd almost certainly accept, and be done with it.

But... they're NOT smart.

[truth_seeker]

Sometimes.  It depends on the terms of the original gift.

Endowments probably have favorable tax aspects.

Therefore revoke the endowment, lose the tax savings.

[Bill Cipher]

Endowments probably have favorable tax aspects.

Therefore revoke the endowment, lose the tax savings.

The tax savings would have benefited the donor.