Looks like Oberlin College is having some financial difficulties - from Legal Insurrection:
Gibson’s Bakery: “there is serious concern about [Oberlin College’s] ability to pay this sizable judgment three years from now”
The $25 million damages judgment plus the over $6.5 million attorney’s fees and expenses award, puts Oberlin College almost $32 million in debt to Gibson’s Bakery and its owners.
Post-judgment interest in Ohio is 5%, which if my math is correct, on $32 million equals $1.6 million a year just in interest, or $4,384 per day. So that $32 million is going to keep growing as the inevitable appeal winds its way through the courts.
Interest aside, Oberlin College doesn’t want Gibson’s Bakery to start collecting the judgment by seizing bank accounts, college equipment, and anything else they can get their hands on.
Not surprisingly, Oberlin College has filed a Motion for a Stay of Execution of Judgment (pdf.)(full embed at bottom of post). The motion also requests that Oberlin College not be required to post a bond to secure the judgment while the trial court rules on post-trial motions Oberlin College says it will be filing.
Heh - that is what you get for siding with a couple kids who were shoplifting. Was it worth it?
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