Unsatisfied Judgment Fund
Categories: Regulations, Incorporation
We don't yet know what all the damages will be. Think: Michigan State's fine job protecting the U.S. Women's Gymnastics team. The school was sued; it lost. For a while, it didn't know what the financial damages would be. So it had an unsatisfied judgment fund, i.e. an unknown amount of money...just an estimate that it had to fund from its endowment and other sources. Then, when the final judgment of $500 million in damages came down, that unsatisfied fund moved to "satisfied" status, and became an official judgment fund which, all the more sadly, had to be a voter-approved bond raise from the otherwise good people of Michigan to pay for the pedophile's invasions of some of our nation's best athletes.
Do they have any respite in Hell? Yeah, there's another unsatisfied judgment coming for the guy who did this.
