Gibson’s Bakery Moves To Collect On
$36 Million Surety Bond, Oberlin College
Seeks Stay In Ohio Supreme Court
Legal Insurrection,
by
William A. Jacobson
Original Article
Posted By: Harlowe,
6/16/2022 12:35:15 PM
The cross-appeals of Oberlin College and Gibson’s Bakery are awaiting decision from the Ohio Supreme Court, which has the discretion whether or not to take either appeal. We covered the latest on June 13, 2022, Gibson’s Bakery Wants Ohio Supreme Court To Restore Full Punitive Damage Verdict Against Oberlin College.(Snip)There is another drama working its way though the courts, namely, Gibson’s Bakery motion to collect on an approximately $36 million Surety Bond of Zurich American Surety Company.(Snip)Oberlin College never sought a stay of the Court of Appeals mandate,
Reply 1 - Posted by:
Harlowe 6/16/2022 12:36:52 PM (No. 1187844)
FTA: “Oberlin College never sought a stay of the Court of Appeals mandate, and on May 27, 2022, the Gibsons sought execution on the judgment in the trial court in accordance with the mandate. We covered it all in Oops – Gibson’s Bakery Seeks To Execute On $36 Million Appeal Bond Since Oberlin College Failed To Obtain Stay Of Appeals Court Mandate. The Preliminary Statement described the arguments:
...
“If Zurich is dissatisfied with this result, its remedy is against Oberlin--the party Zurich chose to contract with--not in further delaying relief for the Gibsons.”
~~~
May the peace of God be with the Gibson family.
37 people like this.
Reply 2 - Posted by:
formerNYer 6/16/2022 2:11:51 PM (No. 1187933)
I hope they take everything from Oberlin and rename it Gibson College.
God Bless the Gibson family who are carrying on without their parents.
33 people like this.
Reply 3 - Posted by:
Zeek Wolfe 6/16/2022 2:40:53 PM (No. 1187957)
Not sure about Ohio real estate law, but some states would allow the Gibsons to place a lien on either the Oberlin property of physical assets. This judgement might send Zurich into bankruptcy hence the claim on the Oberlin physical plant. Oberlin would be wise to dip into the endowment if that is permitted. The univerity needs to make this case go away fast. One way or the other somebody is on the hook for a great deal of money and at four thousand dollar a day interest, this shoud be settled. Lawyers, of course, would be happy to delay any settlement until the cows come home. At $750 per hour billing, who wouldn't?
17 people like this.
Reply 4 - Posted by:
Vaquero45 6/16/2022 2:43:00 PM (No. 1187962)
Oberlin has lost every court battle in this case. They’ll lose this one, too. Every day that goes by increases the amount they owe to the Gibsons.
If they had any brains, they’d pay up and move on. But, they’re liberals, so common sense isn’t common with them.
27 people like this.
Reply 5 - Posted by:
WhamDBambam 6/16/2022 3:03:03 PM (No. 1187984)
I hope the result for Oberlin is somewhere between Foghorn Leghorn’s dog paddling and the coyote in any roadrunner cartoon scene (or both!).
12 people like this.
Reply 6 - Posted by:
smokincol 6/16/2022 3:06:03 PM (No. 1187990)
Oberlin is showing itself to be an institution that has been completely taken over by communist sympathizers and facilitators,
bad news for any educational institution to adopt this attitude and behaviour,
they are wrong, they know they are wrong and will continue to be wrong as long as the current decision makers who administer this school remain in authoritative positions
"are you now, or have you ever been, a member of the Communist Party?"
12 people like this.
Reply 7 - Posted by:
MDConservative 6/16/2022 3:29:57 PM (No. 1188020)
There isn't enough popcorn...
8 people like this.
Reply 8 - Posted by:
john56 6/16/2022 4:10:31 PM (No. 1188053)
Oberlin: write the check to the Gibsons!
13 people like this.
Reply 9 - Posted by:
earlybird 6/16/2022 8:17:25 PM (No. 1188282)
Jacobson’s analysis is terrific. Very clear. Here he bottom lines what he believes is actually the case:
So, the language of the bond appears to support the Gibsons. The argument of Oberlin College is more of a general plea to maintain the status quo pending whether the Ohio Supreme Court takes the case. But Oberlin College doesn’t address this unique circumstance, where there is an independent contractual obligation of a surety (Zurich American) that has come due to a third party (the Gibson), and as to which the party seeking a stay (Oberlin College) is not a contractual party. Arguably, Zurich American owes the Gibsons the money, and what happens then is between Zurich American and Oberlin College.
6 people like this.
Reply 10 - Posted by:
lakerman1 6/17/2022 6:26:49 PM (No. 1189188)
Zurich undoubtedly made some big bucks when they agreed to issue the bond. And they have a real incentive to pay up. And Zurich is smart enough to have immediate access to Oberlin funds to settle everything out.
Oberlin, however, may be thinking that they can delay and delay, and at some point do a special fundraising to pay Zurich, plus any residual money owed to the Gibsons.
0 people like this.
Below, you will find ...
Most Recent Articles posted by "Harlowe"
and
Most Active Articles (last 48 hours)