By ceasing trading, this will naturally decrease the debt to...

By ceasing trading, this will naturally decrease the debt to equity ratio, resulting in a lower probability of covenant breaches.
Maybe this will put Openpay in a better position with the remaining secured creditors.
It would only take them < 1 month to recover $30M. Debt would reduce from $112M to $82M. Trading could resume after that with a different set of debt holders and hopefully the maturity dates are extended to pave the path to profitability.