First Liberty also claims in its request for receivership that Gaillardia is in danger of losing its only source of water to irrigate the greens at the golf course for failing to pay money owed to the Oklahoma City Water Utilities Trust.
The bank said in court documents filed earlier this month that the roof leaks at Gaillardia's 55,000-square-foot French Normandy-style clubhouse and that creditors have threatened to repossess the club's golf carts.
Peter Vitali, the club's executive director, said all of Gaillardia's facilities continue to be open and the club hosted a PGA Junior Tour event this week.
“We're rolling along,” Vitali said.
A call to an attorney for Bank of the Ozarks was not returned Wednesday. Herrington did not respond to a request for comment.
A hearing on whether to place the country club and golf course into receivership was canceled last week and has yet to be rescheduled.
First Liberty declined to comment on the foreclosure.