alt Hacker NewsIt might also be illegal. Don't know about the US but forcing a bankruptcy to avoid regulations is usually frowned upon by the court system here. So putting a product in a child-dummycorp to go poof when you want and let the parent stay afloat usually puts the parent in the line of fire directly and you are screwed either way.
It is possible to require escrow accounts for cover costs of fixing future security issues) - these survive bankruptcy. They need to be big enough to cover the costs though - insurance can calculate this but it isn't cheap.