The Hallmark Scottish Inn in Arkansas City was sold back to the bank that foreclosed against it during a public auction at the Cowley County courthouse Thursday morning. The bank was the only bidder, according to Capt. Steve Roberts of the?Cowley County Sheriff’s Office.
The Washington Mutual Bank bought the motel at 1617 N. Summit St. for $943,591.65, which includes the principal and interest of $939,378.45, accrued attorney’s fees of $3,594 and $619.18 court costs and titling fees.
The hotel had operated as a Red Carpet Inn.
The bank, a federal savings association, filed the foreclosure action last fall claiming it loaned the defendants $924,000 in March 2000. As of June 2007, $885,197.42 was due.
The defendants were R.K. Hallmark, Inc. d/b/a Hallmark Scottish Inn d/b/a Scottish Inn, Rajwant K. Dhaliwal, also known as Rajwant K. Dhaliwaz, Rajwant K. Dhaliwal doing business as R.K. Hallmark, Inc., U.S. Business Administration, Priyesh D. Patel and Minesh D. Patel.
