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ORO Management, LLC v. R.C. Mineral & Rock, LLC

Supreme Court of Wyoming

June 21, 2013

ORO MANAGEMENT, LLC, Appellant (Plaintiff),
v.
R.C. MINERAL & ROCK, LLC, Appellee (Defendant).

Appeal from the District Court of Fremont County The Honorable Norman E. Young, Judge.

Representing Appellant: William L. Miller, Miller and Fasse, P.C., Riverton, Wyoming.

Representing Appellee: Joel M. Vincent, Vincent and Vincent, Riverton, Wyoming.

Before KITE, C.J., and HILL, VOIGT, BURKE, and DAVIS, JJ.

BURKE, Justice.

[¶1] Appellant, ORO Management, LLC, ("ORO") filed suit against Appellee, R.C. Mineral & Rock, LLC ("R.C."), seeking to set aside a foreclosure sale. The district court granted summary judgment in favor of R.C. ORO challenges that decision in this appeal. ORO contends that summary judgment was improper because R.C. failed to provide sufficient notice of its intent to foreclose, and because a genuine issue of material fact exists with respect to whether the published notice of foreclosure accurately stated the amount due under the loan. We affirm.

ISSUE

[¶2] ORO presents a single issue for our review:

Did the district court [err] in granting the Defendant/Appellee's Motion for Summary Judgment?

FACTS

[¶3] Between 2001 and 2003, Richard Mathey invested a total of $200, 000.00 in ORO Management, LLC, and became a member of the LLC along with Zane Pasma, ORO's managing member. After ORO ran into financial difficulties, Richard Mathey and his wife, Randy Mathey, jointly issued a series of three loans to ORO, totaling $527, 125.00, which were secured by mortgages on "all of [ORO's] interest" in property co-owned by ORO and Ron Bixler.

[¶4] In 2005, the property owned by ORO and Mr. Bixler was partitioned following a dispute between those parties. In 2006, Richard Mathey withdrew as a member of ORO with the understanding that his capital contribution would be repaid. In 2007 and 2008, ORO issued four $50, 000 checks to Mr. Mathey. The ledger line on the first check stated, "Richard Mathey . . . 1st dissolution installment." The ledger line on the next three checks stated "Partner Equity Pmt – Richard M."

[¶5] In 2010, the Wyoming Secretary of State administratively dissolved ORO, and Richard Mathey resigned as its registered agent. The company remained "inactive" until after initiation of the foreclosure proceedings at issue in this case. In September, 2011, the Matheys assigned their mortgages on the ORO property to Appellee, R.C. Mineral & Rock, LLC. R.C. immediately began the process of foreclosing on the mortgages. R.C. made private arrangements with Mr. Bixler to compensate him for his share of the partitioned property.

[¶6] On September 21, 2011, R.C. sent notice of intent to foreclose via certified mail to ORO in Green River, Wyoming, at the last known address listed with the Wyoming Secretary of State. R.C. also sent a courtesy notice to Zane Pasma at his last known address in Sheridan, Montana. However, Mr. Pasma's name was misspelled as "Plazma." The notice sent to ORO was returned and marked "unable to forward, return to sender, " and the notice sent to Mr. Pasma was returned as "unclaimed." R.C. sent notice to ORO and Mr. Pasma (as "Plazma") again in October, but those notices were also returned as "unable to forward" and "unclaimed." R.C. did not send notice of the foreclosure to Mr. Bixler.

[ΒΆ7] R.C. proceeded to publish notice of the foreclosure for four consecutive weeks in the Lander Journal. A foreclosure sale was held on November 17, 2011, and R.C. purchased the property for $825, 557.78, the amount claimed due on the mortgages. ...


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