If we were looking at a Chapter 7 (liquidation), the secured creditors are going to be first in line no matter what and I don't think this legal manuever gets Tronical ahead of the secured pool. It's remotely possible it gives them some preference with the unsecured pool, but this is all just conjecture because none of us know exactly who has what priority in terms of liens/UCC filings and who may have provided corporate or personal guaranties.
It's much more likely they will file a Chapter 11, submit a plan of reorganization, and buy some time that way. There will be strict oversight by a Trustee and the court. Negotiations for the sale and control of the company will continue. This will likely go on a while.