Bankruptcy Filing Postpones Sale of Tulsa Club

Aug 28, 2012

The vacant Tulsa Club building won’t be sold just yet—a scheduled sheriff’s sale auction of the property was canceled earlier today.

That’s because its owner, C.J. Morony, transferred the property’s title to his company, Shamrock Asset Holdings LLC in Nevada, which then declared bankruptcy yesterday.

David Dryer, Morony’s attorney, explained that his client is “attempting to preserve the equity in the building so that he can get time to communicate with some buyers that are looking at the building.”

With the sheriff’s sale scheduled for today, he said, “there just was not enough time.”

The City of Tulsa filed last month to sell the building due to code violations and unpaid assessments.

City Attorney Bob Edmiston has said that potential buyers of the Tulsa Club building had complained that talks with Morony had broken down.

But Dryer says Morony still hopes to sell the property privately.

“The City took the steps that they thought were necessary and really put the pressure on my client to do something,” Dryer said, “so unfortunately we had to take the action we had to take.”

Morony also owns the vacant Sinclair building. Dryer says a private sale of that property is still being negotiated.

“We’re currently putting together an offer to the city to catch up on the (overdue) assessments (on the Sinclair),” Dryer said.