Pre-petition, the debtor entered into two contracts to supply coal to two coal purchasers. Subsequently, the debtor assigned the right to receive payment under these contracts to a related party, but it did not assign the underlying contracts themselves. Post-petition, the trustee sought a determination that the accounts created by these assignments were property of the debtor or the estate, that the trustee could avoid any security interest in the accounts, and that the trustee could recover pre-petition payments made on the accounts under § 544(a)(1). On summary judgment, the Court held that the assignment of the accounts was subject to the perfection rules of Article 9 of the UCC, and that because the related party’s security interest in the accounts was unperfected, the trustee could avoid that interest. On the issue of ownership, the trustee conceded the debtor had sold the accounts to the related party. Accordingly, under § 318 of Article 9, the Court concluded that the debtor held no legal or equitable interest in the accounts, which were therefore not property of the debtor or the estate. Lastly, the Court held that § 544(a)(1) did not give the trustee the power to avoid pre-petition payments that had been made on the accounts to the related party.