Dangling reference to workspace

Hello to the forum members,

I have a reference to IWorkspace instance in my RTC extension. User may delete the workspace, resulting in dangling reference to IWorkspace. Is there an  API to recognize such dangling reference ? Currently, my way of recognizing such case is using code like:

try{
     final IWorkspaceManager wsmgr = SCMPlatform..getWorkspaceManager((ITeamRepository) workspace.getOrigin());
     final IWorkspaceConnection wsc = wsmgr.getWorkspaceConnection(workspace, null); //Throws ItemNotFoundException
   //Do something with the workspace
} catch (ItemNotFoundException e) {
    //Update reference to workspace to null
}

If there is a more direct API to check validity of IWorkspace reference I'll be grateful for your comments. If there's an event I can listen to when workspace is deleted, that will be great as well.

Thanks,
Gidi