Ultimately, it doesn't matter what they are obliged to do by law, if they are bust and out of money then they can't pay you.
So far as I know the DSS pick up the payments to you directly instead (they were paying them anyway, just through the company which claims back the money it pays you). Not sure the actual mechanics of it though. The sooner you make enquiries the better, I'd imagine the CAB is a good starting point. Or phone the Benefits people directly. There's plenty of phone numbers etc on the child benefit literature, as I've been finding out this week!
Scots law and English law are identical on emplyment rights I believe.