SUBJECT:

Coordination of Processing Proof of Claims (Bankruptcy Filings)

Recent economic conditions have increased the number of UCSD vendors, suppliers and sponsors that have sought protection from creditors through the filing of bankruptcy petitions. Frequently, notice of such a filing goes to a department or unit unfamiliar with the importance of a timely response to such a notice. UCSD has implemented a centralized system for handling bankruptcy notices and the resulting Proof of Claim forms to protect UCSD's interests. To further define the term, a Proof of Claim is a legal form, typically sent to creditors of corporate entities as a result of bankruptcy action or planned dissolution of the corporation.

When UCSD receives a Proof of Claim form, it is important to respond in a timely and appropriate manner to minimize the University's potential loss in any circumstance. Effective with this notice, the Office of the Controller will be the coordination point for the proper handling of these legal documents.

There are hundreds of business units here at UCSD that could be the subject of a "proof of claim." If your unit has received one in error, please forward the form to the Office of the Controller for handling. If the proof of claim is applicable to your unit, we request that your department complete and file the claim, and forward a copy of your response to the Office of the Controller, Attention: Damarys Alicea, mail code 0951 or via fax at (858) 534-0429.

It is imperative that the university takes proper and timely action on potential claims. Therefore, faculty and staff should report impending bankruptcy proceedings for vendors, sponsors and suppliers. We appreciate your assistance in working with us to ensure that claims are properly filed in a timely manner. This information supplements Processing of Proof of Claims on the Blink website: http://blink.ucsd.edu/go/proofofclaim

If you have any questions regarding this matter, please contact Damarys Alicea at daliceasantana@ucsd.edu. Thank you for your cooperation.

Don Larson Controller