Can a non-party to the Bankruptcy case dispose of a lender's (debtor's) asset in BK CH 11 without first lifting the Automatic Stay and before the Hearing for the Sale of the Loan Pools?
The lender (a MERS member Filed Bankruptcy Chapter 11) and then another entity assigned my loan to itself using MERS before the Hearing for the Sale of the Loan Pools took place. The MERS assignment smells fishy to me because:
1. The lender (debtor) rejected all its executory contracts that may include MERS
2. The new beneficiary is not a party to the BK Case
3. The hearing for the sale of the pools of loans hadn't taken place yet and...
4. The lender did not assume MERSCORP in its Assumption Schedule.