Or it can be the most obvious answer: he is competent. He proven himself many times he is capable of competence.
There been many 'reasons' trying to justify that BC aren't toxic diluters. What happened in the end? BC are toxic diluters.
For one thing: there are numerous non-toxic shells he can have bought from, skipping all these drama altogether. And he could have offer to buy the outstanding toxic notes prior to starting operation (BC managed to do it...?)
So many things pointing to competence unless people are willingly choose to ignore the signs.
You’re overlooking the other evidence. He thought or was told the Nevada LDSR had been merged with the North Carolina LDSR, and it wasn’t. Getting what you’re paying for, including knowing what the debts and liabilities are for a business you are purchasing, is basic due diligence. He didn’t do it.