BA had his account frozen due to refund demands and payments pending.
Its PayPal that are covering you, so it makes no difference whether his account still exists or not.
As I said before, they will only cover non custom made purchases and only up to 30 days after the transaction.
I would recommend you read BA's old forum, because he has updated it re refunds & deliveries.
Don't give up yet.
Also, this new 'management company' seems to be handling some of the outstanding issues people have, so you should contact them as well.