That’s not how the law works. If he has a legit case, the courts won’t throw it out because specific performance (paying him out) can’t be met. The court could rule in his favour, but practically speaking he might still not get paid if they are bankrupt. He would just get in line with the rest of the creditors who are owed money.
What you are suggesting is crazy. Imagine if I hired you to fix my fence for $10,000, and then did not pay you for services rendered under our agreed upon contract. You sue, I go to court and say, yeah, I don’t have any money to pay him so throw out his lawsuit and