Tulsa Club sale on hold after owner files for bankruptcy
BY KEVIN CANFIELD World Staff Writer
Tuesday, August 28, 2012
1/14/13 at 1:57 PM
Correction: This Tulsa World story incorrectly described how the $450,000 value of the building was determined. It has been corrected.
An auction of the Tulsa Club was canceled Tuesday after the company that owns the building declared bankruptcy.
Shamrock Asset Holdings LLC of Carson City, Nev., filed for bankruptcy Monday. The filing stayed the sheriff's sale.
City Attorney Bob Edmiston said Tuesday morning that the building’s previous owner, California businessman C.J. Morony, had transferred the title of the building to the LLC prior the bankruptcy filing.
The property has an appraised value of $450,000.
The city of Tulsa filed to sell the building last month after a multiple code violations went unaddressed and improvement district assessments went unpaid. The city took Morony to court in 2008, and last year Tulsa County District Judge Rebecca Nightingale entered a final order granting judgment to the city and other lienholders in the case.
With interest, the bill for the property has reached nearly $465,000.
Once a favorite haunt for Tulsa's movers and shakers, the building at 115 E. Fifth St. opened in 1925 to provide facilities for the Tulsa Club and the Tulsa Chamber of Commerce.
The building has been vacant since 1994 and was declared a nuisance in late 2007 after a rash of code violations.
In recent years it has been the site of repeated vandalism and fires.
Read more on this story in Wednesday's Tulsa World.
The Tulsa Club, which has been the site of repeated vandalism and fires in recent years, was scheduled to be sold at a sheriff's sale Tuesday. The sale was delayed after the company that owns the building filed for bankruptcy Monday. KT KING/Tulsa World