The College recognizes outstanding achievement in the field of commercial finance law through several awards. Please click on the links below for more information about each of the awards.
Grant Gilmore Award
Grant Gilmore was a co-Reporter for the original Article 9 of the Uniform Commercial Code. He authored the classic treatise on secured transactions, and taught at Yale and Columbia Law Schools, among others. This award, named in Professor Gilmore’s honor, is given when the College identifies superior writing in the field of Commercial Finance, including Uniform Commercial Code, bankruptcy and other related topics.
Recipients of the Grant Gilmore Award
1992: Kerry Lynn McIntosh, Professor, Santa Clara University
1993: R. Wilson Freyermuth, Associate Professor, University of Missouri-Columbia
1996: Steve Sepinuck, Associate Professor, Gonzaga University School of Law
1998: Ronald J. Mann, Professor of Law, University of Michigan Law School and Marshall E. Tracht, Associate Professor, Hofstra University School of Law
2000: Lisa E. Bernstein, Professor, University of Chicago Law School
2002: Thomas E. Plank, Professor, University of Tennessee College of Law
2008: Kenneth C. Kettering, Professor, New York Law School
Homer Kripke Achievement Award
Prior to becoming the Chester Rohrlich Professor of Corporate Law, Finance and Taxation at New York University School of Law, Homer Kripke served as Assistant General Counsel at The CIT Group, Inc. for 17 years. An expert in secured transactions, Professor Kripke also mastered securities law and accounting, in addition to being President of the Association of Commercial Finance Attorneys, Inc. from 1963 to 1965. Having contributed to the development of American commercial jurisprudence throughout his entire adult life, the College has deemed it particularly fitting that our lifetime achievement award be named in Professor Kripke’s honor.
This award is given when the College identifies a teacher or practitioner who has made an outstanding contribution, throughout his or her career, to the law as it relates to commercial finance.
Recipients of the Homer Kripke Achievement Award
1992: Professor Homer Kripke
1993: William B. Davenport
1996: Howard Ruda
1997: Professor William D. Hawkland
1998: A. Bruce Schimberg
1999: Donald J. Rapson
2001: Donald Lee Rome
2002: James J. White
2005: Harry C. Sigman
2009: William M. Burke
2011: George A. Hisert and David S. Willenzik
2012: Edwin E. Smith and Steven O. Weise
Special Service Award
The ACCFL Special Service Award is presented to Fellows of the College who have made significant contributions to the College’s goals by sharing their knowledge and promoting the development and improvement of the practice of commercial finance law. These contributions include developing and promoting the enactment of model laws, such as the Uniform Commercial Code, developing authoritative model agreements for use by practitioners, and significant efforts in the areas of continuing legal education.
The Special Service Award was given in 2002 for Distinguished Service in the Development and Nationwide Enactment of Revised Article 9 of the Uniform Commercial Code to William M. Burke, Professor Steven L. Harris, Professor Charles W. Mooney, Jr. and Steven O. Weise.
The development and enactment of Revised Article 9 of the Uniform Commercial Code was a landmark achievement in commercial finance. Revised Article 9 became effective in almost all states on July 1, 2001, and is currently effective in all 50 states, the District of Columbia and the Virgin Islands. This major update to the most significant law ever to affect secured lending was drafted by a Committee chaired by William M. Burke. Co-Reporters Steven L. Harris and Charles W. Mooney, Jr. were aided by Steven O. Weise, the American Bar Association advisor to the Committee. Following enactment, these lawyers continued their efforts toward the successful enactment of the law.
Ernest Bland Williams III and Jeffrey S. Turner were recognized for their many contributions to the College and continuing legal education in commercial finance law.
* EIII was one of the founders of the College in 1991, and served as its first president from 1991 to 1993. Without his guidance and wisdom, the College would not be in existence today. EIII also taught and wrote on commercial law topics. EIII passed away in 2008, and a tribute to him can be found here.
* Jeff Turner was a prolific writer and educator in the field of commercial finance. He served as Chair of the ABA Business Law Section Commercial Finance Committee and in many capacities in leadership of the LA County Bar Association and the State Bar of California. Jeff was co-author of a leading treatise on asset based lending as well as the author of numerous articles and a frequent CLE speaker. Jeff passed away in 2004.
A more detailed description of EIII’s and Jeff’s many contributions and achievements can be found here.
Richard Brown and Gary D. Chamblee received the Special Service Award in 2011 for their leadership in the development of the ABA Business Law Section Model Intercreditor Agreement.
“Commercial finance” refers to the extension of credit secured by a security interest in personal property to finance the operations, capital improvements, acquisitions or recapitalizations of commercial enterprises. Transactions in commercial finance include not only traditional lending and factoring based on current assets, but also financing the acquisition of personal property assets, including equipment and intellectual property, whether by secured loan, lease, license or the use of chattel paper; trade finance through the use of letters of credit, independent guaranties, bankers’ acceptances, bills of exchange and the like; financing the acquisition, expansion or recapitalization of businesses or lines of businesses secured by the personal property assets of the business or business line; structured finance including securitization; and financial contract transactions involving security interests in personal property. The reference does not include financing for the debtor’s personal, family or household purposes.