Subchapter 5 which is different than non subchapter 5. He continues operating as normal and is submitting evidence that shows the lender was toxic. If he wins he could potentially not have to pay the interest and either way the debt amount should drop.
Not being mentioned is this. The addition documents requested by Finra and the split was not declared effective and no shares were issued as early as last month. They were also turned down for a split 2 times before this.