Serf was talking about "reorganization" as a way to make the contract with Corey invalid, but then he learned from some that "reorganization" was not implying a merger as he thought, but it implies a type of bankruptcy, so that rules out this possibility of getting away from the Corey deal. Serf is looking at other parts of the contract which can make the Corey deal invalid.
Odysseus crossed the river of Styx. He asked Achilles if it was worth trading his life to have his 'name' live forever. Achilles replies: "I would rather be the slave of a slave on earth, then to live here in Hades..." --Homer's The Illiad