IN RE APPONLINE.COM. INC.

Bankruptcy Nos. 800-84686-478, 800-84687-478, 800-85007-478, 801-85195-478 to 801-85202-478, Adversary No. 802-8157-478.

296 B.R. 602 (2003)

In re APPONLINE.COM, INC., Island Mortgage Network, Inc., et al., Debtor. Alan M. Jacobs, as Chapter 11 Trustee of AppOnline.com., Inc., Island Mortgage Network, Inc., Action Abstract, Inc., Action Abstract, Inc., National Settlement Services Corp., Arrowhead Mortgage Company, Inc., Bay City Mortgage Corp., Citizens Mortgage Service, Inc., Cornerstone First Financial, Inc., Queen City Mortgage Co., and Western National Funding, Inc., Plaintiffs, v. State Bank of Long Island, Defendant.

United States Bankruptcy Court, E.D. New York.

July 28, 2003.


Attorney(s) appearing for the Case

Kramer Levin Naftalis & Frankel LLP, By P. Bradley O'Neill, New York City, for Trustee.

Fried, Frank, Harris, Shriver & Jacobson, By Andrew T. Gardner, New York City, for Defendant.


DECISION AND ORDER ON TRUSTEE'S MOTION FOR SUMMARY JUDGMENT ON FIRST COUNT OF COMPLAINT

DOROTHY EISENBERG, Bankruptcy Judge.

Before the Court is a Motion for Summary Judgment (the "Summary Judgment Motion") by Alan M. Jacobs, the Trustee (the "Trustee") of the Substantively Consolidated Chapter 11 Estates of AppOnline.com, Inc. ("AppOnline"), Island Mortgage Network, Inc. ("Island Mortgage"), Action Abstract, Inc. ("Action Abstract"), National...

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