Gladstone Hotel, Inc. v. Smith

Three appeals are now here as an aftermath of previous litigation growing out of a purchase of the Gladstone Hotel property from transferees of the Smiths by the Johnsons; the subsequent default of the Johnsons; the resulting foreclosure of a second mortgage held by the Smiths on the property, subject to a first mortgage originally held by Massachusetts Mutual Life Insurance Corporation and after commencement of the proceedings assigned to the Wyoming National Bank of Casper; and the appointment of a receiver. The circumstances can best be understood by reference to the decision of this court in Johnson v. Smith, Wyo., 455 P.2d 244, which affirmed the trial courts determination in various aspects relating to the foreclosure and receivership. The present appeals are from three facets of the persisting controversy. No. 3892 asserts lack of jurisdiction of the trial court in certain procedures relating to the termination of the receivership and the conclusion of the proceedings following the decision in the previous appeal. No. 3877 is an appeal from a summary judgment dismissing plaintiffs complaint against defendants for damages resulting from the breach of promise by the Smiths to arrange refinancing with respect to mortgages covering the Gladstone Hotel property. No. 3942 is grounded upon the contention that the Johnsons had a right to redeem the property sold by the Wyoming National Bank under its first mortgage subsequent to the date of the previous appeal. The three cases have been here consolidated for hearing and decision.