I am new here, and I read this discussion from the start. There are a few very important points that have not been made clearly, so I will attempt below, as they are. These are isolated points, and make sweeping generalizations, so there are many edge conditions and exceptions I will not address, as I do not want to write a book. I attempt to present "fact", but others may have divergent views of these same "facts". I'll not argue.
1) The BSA reincorporated in DE specifically for purposes of bankruptcy because DE permits non-consensual 3rd party releases in bankruptcy while Texas does