Hello from the Bella Villa
We also lost money and received no compensation.
Funny that it was taken over with a new format....very strange.

All that I can say is "oh well"

Booking.com is the most successful booking provider this year but you have to closly watch their cancellation policy.
Also you can take out 10% of the booking on receiving it and this way it validates the card and if they cancel you still keep 10% for admin costs.
Cheers Stan