503.3 - University of North Carolina at Chapel Hill Procedure on Managing a Notification of Bankruptcy

Procedure Statement

This procedure specifies the steps that must be taken relevant to accounts receivable where the debtor has initiated bankruptcy proceedings. This procedure applies to all University-owned accounts receivable.

If any department receives a Notification of Bankruptcy, where a University invoice or debt is involved or collection efforts are in progress, then the department must immediately send a copy of the Notification of Bankruptcy and other applicable documentation to the Office of University Counsel at Campus Box #9105. All departments with debt owed by the company/individual must cease collection efforts against the company/individual who has declared bankruptcy until directed otherwise by the University Counsel's office.

If the debts are discharged by the bankruptcy, the departments will be directed to write off the debt.

Forms and Instructions


Related Data

Related Policies

  • Finance Policy 503 - University of North Carolina at Chapel Hill Policy on Accounts Receivable


  • February 29, 2016
100% helpful - 1 review


Article ID: 131527
Thu 4/8/21 9:11 PM
Tue 10/31/23 1:18 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
02/28/2018 12:00 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Int. ED Assoc. Entities/Assoc Controller
Last Review
Date on which the most recent document review was completed.
02/29/2016 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
02/29/2016 12:00 AM
Next Review
Date on which the next document review is due.
02/28/2019 12:00 AM
Date on which the original version of this document was first made official.
02/18/2016 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.