The Daas Torah blog of Rabbi Daniel Eidensohn posted the Chicago Beis Din’s (CBD) “Guidelines for Elimelech Meisels from the Beis Din,” signed by its dayanim (judges) and dated May 19th, 2014. The conditions include no contact with girls including present or former students, therapy, supervision, no contact with his seminaries, and clarity that these conditions do no bar anyone from pursuing criminal charges.
There is no signature by Meisels and it is not clear if he ever agreed to it, whether he ever signed it and if so on what date. It is equally not clear if he complied with the agreement.
R. Eidensohn correctly notes that the agreement did not stipulate anything about the sale of the seminaries. However the agreement states, “Elimelech Meisels must remove himself from all the seminaries… This includes never entering any of the campuses or having any decision making regarding the functioning of the seminaries.” This clearly implies that he cannot be a board member or officer of the controlling not-for-profit entity. It would be illegal to sell a non-for-profit. If it happens, it involves some form of money laundering to pass the money to Meisels. Chicago could not make demands that required illegal actions because they have to stay on this side of the law.
I would speculate that Meisels bought time by signalling agreement but then was not following through on many of its clauses, hoping to run down the clock on the start of the new academic year. At some point it is clear, from other information I have, that the CBD tried to interest several different parties to enter into negotiations to take over the seminaries. I strongly suspect that at some point the CBD had to pull the plug on a private agreement because they did not trust him and knew it would be harder to act against him once the academic year started. At that point they publicly revealed his misconduct and ruled that parents should not send their children to the seminaries.