What happens to the claim when the Defendant goes into liquidation?

[palindrome]

So I have just found out that the limited company I have issued a claim against has gone into Creditors Voluntary Liquidation for insolvency. My claim was started 18months ago as a small claim (£8000). They initially ignored this, then had it set aside, then added a counterclaim which they defaulted on, and so now costs have been added to the claim. I know we have no chances of getting anything back if we win so how to I avoid losing further? It seems if I discontinue the claim I am liable for their costs or if we continue to a hearing then I will have to pay fees there is no chance of recouping.*