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 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.

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.