I might be a bit bitter as it has happened to us about half a dozen times or more over the years. From my experience he needs to act fast and lift what ever he can from the company. Plenty will tell you that is illegal which it is but even lifting your own gear of one of their sites is seemingly illegal and we have been threatened with the police but even plod is not going to stop you when you explain the situation. As for getting any cash back, in my unfortunate experience the answer is forget it, all you can do is learn from it and tighten up your credit control. My Mrs has annoyed more than one client by handing over any debt to the professionals but if they paid on time and no one went bust we would never have to do it.