Apex Oil Co. v. Artoc Bank & Trust Ltd. (In Re Apex Oil Co.)

O’BRIEN, Bankruptcy Judge.

Apex Oil Company (the “Debtor”) appeals from four bankruptcy court 2 orders and a summary judgment entered in favor of Artoc Bank & Trust Limited (“Artoc”), allowing Artoc a claim in the Debtor’s bankruptcy case in the amount of $3,461,850. 3 We affirm.

I

STATEMENT of the case

During the 1970’s, Artoc was a secured lender to Uni Refining, Inc. (“Uni”). Ar-toc held an assignment of Uni’s accounts receivable and a security interest in Uni’s inventory. Notice of the assignment was placed on Uni’s invoices to its customers along with instructions for them to send invoice…