It’s not that big of a deal. The Redcon1 is still alive and thriving.
Basically Redcon1 used Hi-Tech Pharmaceuticals as their contract manufacturer for all their products. Jared is trying to take over the brand and own part of it. Instead of just suing for the amount owed, he is taking the route of involuntary bankruptcy in order to get equity in the company and ultimately bring the brand under his control.
He has done this before with other brands. If you remember LG Sciences, they had financial issues in early 2010’s and he went in to secure all their patents from Eric. All the DHEA based porhormones that are sold are controlled by Jared from Hi-tech.
It’s just an attempt to take over the brand since it’s CEO is in prison and “technically” is forbidden from running a company.