I think it’s kind of the opposite direction. Picture a company that exists and is profitable, say a gas station. Eventually they realize how much groundwater they’ve contaminated and that they can’t pay it, so go out of business. They no longer exist. Certainly any bond posted for cleanup will be seized but that’s never enough. Then there’s nothing of value left to seize, nor are their affairs held long enough to determine the scope of the problem. Then by the basic rules of corporations, there’s no one left to sue, to recover from

Sure, if it were a sham company you may be able to legally go around that, but the point is that many legit companies will go out of business, leaving a mess for taxpayers