Join Date: May 2004
Location: SIN (LEJ once a year)
Programs: SQ, LH, BA, IHG Diamond AMB, HH Gold, SLH Indulged, Accor Gold, Hyatt Discoverist
Posts: 7,743
If the money would go into the administration of the defunct / bankrupt travel agent, depending on country process and remaining assets you could end up with 10-20 cents I n the dollar or even nothing. A voucher would be much preferable in that case.