If you buy something on a credit card from a company that goes bust and fails to deliver, you can claim the money back from the credit card company. That's what I have done twice, including once when an airline went bust while I was away - got all the money back for the return fare.
If an administrator allowed someone to trade with a company they were administering knowing they could not fulfill the order, they would be breaking the Law. Since their reputation and livelihood depends on obeying the Law...
Two things amaze me in these cases. First, that people are so ignorant of the Law, and second that they think by posting on a website they will either have someone else sort it out for them, or they will influence others. Ask yourself this - if someone gave you change for a tenner when you'd given them a fiver, would you always confess? No - so why do you expect total honesty from others when you don't show it yourself.