Gotham Hotels, Ltd. v. Wilson

BRIGHTMIRE, Justice.

The core question raised here is whether or not county ad valorem taxes assessed against the old Biltmore Hotel — a now demolished downtown Oklahoma City structure — for the years 1973, 1974, 1975, were judicially extinguished by a mortgage foreclosure judgment rendered on April 11, 1977.

I

Gotham Hotels, Ltd., formerly held a mortgage on subject property — owned by one Homer Forrester of Arizona — which secured a promissory note for $1,450,000. The mortgagor defaulted and on July 12, 1976 Gotham filed a foreclosure suit1 against Forrester and others having potential claims…