Don't know about pilot contracts, but I've never seen an engineer contract with a clause about not being paid if the client goes out of business. There's no way I or I suspect any other engineer, would sign up to that. Most agencies I work through supply both pilots and engineers, I would've gussed the terms were fairly similar about being paid.
My contract is with the agency, what they do about getting paid by an airline is none of my business (quite literally!)