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BANK OF OKLAHOMA, N.A. v. RED ARROW MARINA

No. 104,651.

224 P.3d 685 (2009)

2009 OK 77

BANK OF OKLAHOMA, N.A., a National Association, Plaintiff/Appellant v. RED ARROW MARINA SALES & SERVICE, INC., an Oklahoma corporation; Sullivan E. Johnson, an individual; Brad Carson, an individual; and Red Arrow, Inc., an Oklahoma corporation, Defendants/Appellees.

Supreme Court of Oklahoma.

October 13, 2009.

Attorney(s) appearing for the Case

Paul DeMuro, J. Michael Medina, Frederic Dorwart, Lawyers, Tulsa, Oklahoma, for Plaintiff/Appellant.

Lewis N. Carter, Doerner, Saunders, Daniel & Anderson, L.L.P., Tulsa, Oklahoma, for Defendants/Appellees Red Arrow Marina Sales & Service, Inc. and Sullivan E. Johnson.

Jack N. Herrold, David H. Herrold, Emily M. Jones, Herrold, Herrold & Co., P.C., Tulsa, Oklahoma, for Defendants/Appellees Brad Carson and Red Arrow, Inc.1

OPALA, J.

¶ 1 Certiorari was granted to settle the first-impression question whether a creditor who does not impose liability on a mortgage debtor for the deficiency that remains after a foreclosure sale may maintain a suit against the debtor and other parties for fraud in the inducement of the loan that is secured by mortgage. In short, we are asked to decide whether the mortgage debt's satisfaction under Oklahoma's anti-deficiency statute2...

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