Yes, DLIA can go BK even though these deals were made. But WF and G3 must have thought that unlikely when they made them. Banks do lend money to giant companies on shaky ground for a variety of reasons, but not to pipsqueaks like DLIA. And no one lends money thinking they can get it back in court. Months or years later, you cents on the dollar or maybe nothing.
Bottom line: WF and G3 can be just as wrong as Kahn's checkbook. Are you willing to trust their judgment?