They are basically asking the judge to grant them the ability to reimburse unsecured creditors(retail) before the legally required secured creditors reimbursement(institution/whale).
They know there will be no money left for retail after the whales, and they are hoping to survive this still it appears. That won’t happen if they just basically steal retails money(albeit legally), when their business relies on retail customers.
But since they have to follow bankruptcy procedures, only a judge can authorize paying unsecured creditors first.
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