The Elliott–Albert Award for Excellence in Bankruptcy Leadership and Service
Overview
The Elliott–Albert Award for Excellence in Bankruptcy Leadership and Service (“Elliott–Albert Award”) is the highest honor bestowed by the Orange County Bankruptcy Forum (“OCBF”). It recognizes members of the Orange County bankruptcy community who exemplify the highest standards of scholarship, ethics, professionalism, and service.
Originally established as the Peter M. Elliott Memorial Award, this distinguished honor was created to recognize Judge Elliott’s pioneering contributions to the development of the bankruptcy bench and bar in Orange County. In 2025, the OCBF Board of Directors voted to rename the Award to also honor the Honorable Theodor C. Albert, whose decades of leadership, mentorship, and service profoundly shaped the modern bankruptcy community.
The renaming reflects the continuity of excellence across generations—honoring the historical legacy of Judge Elliott and the enduring influence of Judge Albert. Together, they represent the highest ideals of integrity, scholarship, and dedication to justice that define the Orange County bankruptcy community.
The Evolution of the Award
The Honorable Peter M. Elliott Memorial Award was established by the OCBF to honor one of the true pioneers of the Orange County bankruptcy bench. Judge Elliott served as a United States Bankruptcy Judge for the Central District of California from 1971 until his retirement in 1987. His intellect, fairness, and commitment to legal education left an indelible mark on the profession.
Over the decades since its creation, the Peter M. Elliott Memorial Award has been conferred upon professionals whose careers exemplify the values Judge Elliott championed—integrity, scholarship, and service to the bankruptcy bar.
In 2025, the OCBF Board voted to rename the Peter M. Elliott Memorial Award the Elliott–Albert Award for Excellence in Bankruptcy Leadership and Service, acknowledging that the Honorable Theodor C. Albert carried forward and expanded those same ideals through his distinguished career as practitioner, trustee, educator, and judge.
Judge Albert’s contributions, like Judge Elliott’s before him, have profoundly shaped the standards of professionalism and collegiality in the Orange County bankruptcy community. The inclusion of Judge Albert’s name ensures that the Peter M. Elliott Memorial Award continues to inspire current and future generations of practitioners who were directly influenced by his example.
This renaming represents not a replacement, but a thoughtful evolution—honoring the past while embracing the present and future of the bankruptcy bar.
About the Honorable Peter M. Elliott
The Honorable Peter M. Elliott served as a United States Bankruptcy Judge for the Central District of California from January 1, 1971, until his retirement as Senior Bankruptcy Judge in November 1987. After a courageous battle with cancer, he passed away on December 29, 1987.
Judge Elliott was among the earliest jurists to establish the high standards of professionalism that define the bankruptcy bench today. Known for his scholarship, efficiency, compassion, and even temperament, he was deeply respected by all who appeared before him. He generously shared his time and wisdom with attorneys and law clerks alike, emphasizing the importance of integrity, diligence, and respect for the law.
His practical advice—such as “always return your phone calls” and “never assume a judge knows anything”—reflected his humility and insistence on preparation and professionalism. His influence continues to guide those who practice bankruptcy law in Orange County.
A native of Seattle, Judge Elliott served in the Merchant Marines during World War II, later earning degrees from Los Angeles State and the University of San Francisco School of Law. He practiced privately in Santa Ana for seventeen years before joining the bankruptcy bench and ultimately became the first full-time judge appointed to the Ninth Circuit Bankruptcy Appellate Panel.
The OCBF originally created the Peter M. Elliott Memorial Award in his name to honor his exemplary career and to encourage others to emulate his commitment to scholarship, ethics, and service.
About the Honorable Theodor C. Albert
The Honorable Theodor C. Albert, Chief Judge of the United States Bankruptcy Court for the Central District of California, passed away on May 5, 2025. His passing marked the loss of a brilliant jurist, educator, and mentor whose influence will be felt for generations.
Born in 1953 at Fort Sill Army Base in Oklahoma, Judge Albert graduated from Stanford University in 1975 and earned his law degree from UCLA in 1978. His career coincided with the enactment of the Bankruptcy Reform Act of 1978, and from that point forward, his professional life became inseparable from the growth and development of modern bankruptcy law.
Before his appointment to the bench, Judge Albert practiced in Los Angeles and Orange County, co-founding the respected insolvency firm Albert, Weiland & Golden. He served as a Chapter 7 trustee for the Santa Ana Division from 1998 to 2005 and published scholarly work on ancient Roman insolvency law, reflecting his deep intellectual curiosity and historical insight into the development of debt relief systems.
Appointed to the bench in 2005 and elected Chief Judge in 2022, Judge Albert was widely known for his fairness, humility, and unwavering dedication to justice. He taught bankruptcy law for over a decade at Chapman University’s Fowler School of Law, shaping the minds of hundreds of future practitioners. His leadership helped guide the court through periods of technological and procedural change, including the post-pandemic transition to remote hearings.
Judge Albert’s jurisprudence combined scholarly rigor with human understanding. He was admired for his ability to balance empathy with the rule of law, and for his tireless commitment to mentoring young lawyers and fostering collegiality across the bar.
In 2000, Judge Albert himself received the Peter M. Elliott Memorial Award, making the inclusion of his name in the award’s title especially fitting. The Elliott–Albert Award thus bridges two eras of leadership—linking the foundational contributions of Judge Elliott with the enduring influence of Judge Albert.
Continuing the Legacy
Through the Elliott–Albert Award, the OCBF honors two extraordinary jurists whose lives exemplify excellence in the practice and administration of bankruptcy law.
By recognizing members of our community who demonstrate integrity, intellectual rigor, mentorship, and dedication to public service, the Award sustains the legacies of Judges Elliott and Albert—ensuring that their values continue to inspire and define the Orange County bankruptcy community for generations to come.
Award Purpose and Criteria
The Elliott–Albert Award for Excellence in Bankruptcy Leadership and Service is presented to an individual who has substantially improved the bankruptcy community in Orange County.
The selection criteria for the Award are established by the OCBF Board of Directors (“Board”) and are as follows:
The Board shall establish and may from time-to-time review and revise selection criteria, formulated to recognize an individual who has substantially improved the bankruptcy community in Orange County by presenting the individual with the Elliott–Albert Award ("Award").
In order to be eligible for the Award, an individual must be or have been a member of the Orange County bankruptcy community, and shall have been determined by the Board to have:
Demonstrated substantial knowledge of bankruptcy law;
Possessed the highest level of honesty, integrity and ethics;
Served to enhance and improve access to justice in the bankruptcy field;
Contributed to the education of the Orange County bankruptcy community; and
Contributed to the development and improvement of the Orange County bankruptcy community.
The Award shall not be given to members of the judiciary, judicial staff, or court employees during their terms of service at the court. Members of the judiciary, judicial staff, and court shall be eligible for the Award two (2) years after the termination of their service as a judge, judicial staff member, or court employee.
The selection criteria for the Award must be available for inspection by public access on the OCBF website.
Any letter or other writing soliciting nominations for the Award shall include a copy of the Award selection criteria.
Any letter or other writing soliciting nominations for the Award shall be sent to all OCBF members no later than July 31st of that year, unless extended by a majority vote of the Board. The nomination period shall remain open for thirty (30) days from the date the solicitation is sent, and no Award recipient shall be selected until the nomination period has closed.
All Award nominations will be disclosed to the Board prior to being sent to the selection committee ("Selection Committee"). Beyond disclosure to the Board and the Selection Committee, the identities of all nominees for the Award shall remain confidential.
The Selection Committee shall consist of five (5) members, each with one full vote, who do not hold a conflict (as defined in paragraph 9 below) and shall be comprised of:
The current OCBF President (or immediate past OCBF President in the event of a conflict); and
Four (4) persons selected by the Board, which may in the Board’s sole discretion include up to two (2) past recipients of the Award, the remainder to be comprised only of current Board members.
No person shall serve on the Selection Committee if any of the following conflicts exist:
No nominee for the Award shall serve on the Selection Committee.
A partner, member, employee, agent, or representative of the same firm or business enterprise as a nominee for the Award shall not serve on the Selection Committee.
No member of the Selection Committee shall serve consecutive terms on the Selection Committee.
The Selection Committee (or one of its members as selected by the members of the Selection Committee) shall report to the Board its recommended Award recipient. The Board must approve or ratify each year's Award recipient.
The Board may defer or otherwise forego the solicitation of nominations for the Award at any point. If the Board solicits nominations for the Award, however, the Board shall not defer the selection of a nominee for that year and must complete the selection and award process.