Code of Federal Regulations Title 48. Federal Acquisition Regulations System 48.42.902 Procedures

(1) Furnish the notice of bankruptcy to legal counsel and other appropriate agency offices (e.g., contracting, financial, property) and affected buying activities;

(2) Determine the amount of the Government's potential claim against the contractor (in assessing this impact, identify and review any contracts that have not been closed out, including those physically completed or terminated);

(3) Take actions necessary to protect the Government's financial interests and safeguard Government property;  and

(4) Furnish pertinent contract information to the legal counsel representing the Government.