IMPERIAL MTG. CORP. v. Travelers Indem. Co.

599 P.2d 276 (1979)

IMPERIAL MORTGAGE CORPORATION, a Colorado Corporation, Plaintiff-Appellant,

v.

The TRAVELERS INDEMNITY COMPANY OF RHODE ISLAND, a Rhode Island Corporation licensed in Colorado, Defendant-Appellee.

No. 78-1219.

Colorado Court of Appeals, Div. I.

July 26, 1979.

Galchinsky & Silverstein, Herbert H. Galchinsky, Denver, for plaintiff-appellant.

Michael J. Barbo, Denver, for defendant-appellee.

COYTE, Judge.

Plaintiff appeals from a summary judgment which held that when a mortgagee bid the full amount owed on its mortgage at a foreclosure sale, it thereby extinguished any insurable…