Oberlin College ordered to post $36M bond in case against Gibson's Bakery
[CHRONICLET] Lorain County Common Pleas Judge John Miraldi has ordered Oberlin College to post a $36 million appeal bond before he stays execution of the multimillion-dollar judgment recently won against the college by Gibson’s Bakery and the Gibson family.
Attorneys for the Gibsons had requested the college post a bond worth $36,367,711.56, representing the total amount of judgments against the college, plus interest, awarded by a jury and Miraldi following a six-week trial that lasted from late May into early June.
Such bonds are known as supersedeas or appeal bonds and allow defendants in a suit to delay paying the judgment ordered against them until they have exhausted all their appeals. Oberlin College attorneys said in court they intend to appeal but have declined further comment on the matter outside court.
Attorneys for Oberlin College had asked the judge to not immediately order their client to pay the $25 million in compensatory and punitive damages awarded at the conclusion of the case, saying they anticipated filing additional post-trial motions. They also asked him not to enforce a bond, a request attorneys for the Gibsons had opposed.
Miraldi ruled Thursday that Ohio law gives him "great discretion in determining what conditions, if any, are proper to grant a stay of execution of the judgment and to afford security to the Plaintiffs."
There are conditions to Miraldi’s order: He ordered Oberlin College to post the bond by Wednesday, July 31, in order to stay judgment until Aug. 19. Failure to post the bond, he wrote in his decision, will result in the stay of judgment being lifted.
Miraldi also gave Oberlin College until Aug. 19 to file post-trial motions if they wish to extend the stay of judgment further, to Sept. 9.
Attorneys for the Gibsons will have 14 days from Aug. 19 to respond to Oberlin College’s motions. Miraldi wrote that he would rule on Oberlin College’s motions by Sept. 9.
Posted by: Fred 2019-07-27