In Re IAMEC Funding, Inc.

ORDER ON EMERGENCY MOTION TO (A) DISMISS CASE AND IMPOSE SANCTIONS AGAINST DEBTOR AND DEBTOR’S COUNSEL, (B) MOTION TO PERMIT CUSTODIAN TO REMAIN IN CONTROL OF PROPERTY, AND (C) RESPONSE TO DEBTOR’S EMERGENCY MOTION TO REMOVE STATE COURT RECEIVER AND FOR AUTHORITY TO USE CASH COLLATERAL FILED BY OCWEN FEDERAL BANK

ALEXANDER L. PASKAY, Chief Judge.

THE INK was hardly dry on the Voluntary Petition for Relief filed by IAMEC Funding, Inc. (Debtor) when the Debtor’s right to obtain relief under Chapter 11 was challenged by Ocwen Federal Bank, F.S.B. (Bank) who filed a Motion to (A) Dismiss Case and…