The heroin the chapter took out of the Angels clubhouse belonged to the Algonquin Triads, and Billy's plan for that is to buy it back off them cheaply and sell it on. He sends Johnny and Jim into an unfinished tower block to make the offer while he waits outside.
The Triads do not take the deal and were never going to, because Billy sold the two of them along with it. He crashes his bike getting away, the police put him in a van, and Johnny is chapter president again by default — which is where the episode's second half starts.