Does anybody check rights when they receive files?

I was recently contacted by a stock-house rep on an image I licensed for a client several years ago as the image was due for renewal. From the time I licensed the image, the client left, the client company was acquired, and the product was sold to a different company. Through the time period the website has not been updated and this rights-managed image is still there. So the product/website holder is about to get a demand letter from a lawyer.

I don’t feel much guilt—we turned over licensing information when the client left with the instructions they needed to follow up on licensing.

I guess the question is how much work do people go through checking rights, and how does one go through the conversation with the client when you find out their current use is not covered?