> one pretty practical approach [to how to solve this problem] is bankruptcy. This, after all, is what bankruptcy is for: It is a system to make sure that creditors are all paid fairly out of the assets of a company, rather than paying some creditors a lot because they are early and others nothing because they are too late.

That's a legit argument in favor of bankruptcy of the entire company! There's no good justification for creating a shell company to control the damages on the main company (who did kill people).