Oran v. Canada Life Assurance Co.

Banke, Presiding Judge.

Acting on his own behalf and as a partner of Cobb Medical Center Partners, Ltd., Dr. Erdogan Oran brought this action against the Canada Life Assurance Company seeking the return of a $37,000 “standby” (or commitment) fee which had been paid to Canada Life in return for a loan commitment. He brings this appeal from an order awarding summary judgment to Canada Life.

The commitment was for a $1,850,000 permanent financing loan on a medical office building developed by Cobb Medical Center Partners (“CMCP”). Under the terms of the written agreement between the parties, the…