Graham Square, Inc. v. Mutual Life Insurance Co. of New York (In Re Graham Square, Inc.)

MEMORANDUM OF DECISION

JAMES H. WILLIAMS, Bankruptcy Judge.

Pending before the Court are the instructions on remand from the United States Court of Appeals for the Sixth Circuit to determine whether a $332,000.00 commitment fee received by The Mutual Life Insurance Company of New York (MONY), pursuant to a mortgage loan application entered into with Graham Square, Inc. (Debtor), is an earned fee entitled to be retained by MONY or whether this fee is recoverable for the Debtor’s bankruptcy estate. For the reasons that follow, the Court finds that the commit ment fee is an earned fee which MONY…