It is over 3 years since Gibson’s Bakery obtained judgment against Oberlin College for almost $32 million, which with accumulated interest nears $36 million, the amount of a bond posted by the college through Zurich American Insurance to secure the judgment.
Neither “Grandpa” Allyn Gibson nor his son David Gibson lived to see the Gibson family collect. They both passed away, as Oberlin College waited them out.
Oberlin College has done everything possible to delay the Gibson’s getting the money, including an appeal which the college lost and another appeal to the Ohio Supreme Court, which has not yet ruled on whether it will hear the case. Because the appellate court ruling affirming the judgment included a mandate that the trial court “execute” on the judgment, the Gibsons moved in the trial court to collect the bond. The college then sought a stay from the Ohio Supreme Court. Neither the trial court nor the Ohio Supreme Court have ruled on the motions as of this writing, so the Gibson’s attempt to collect on the bond is in limbo. Read more…