Thats an aftermarket shock extension,those are usually used to keep the shock from over extending and damaging the shock,they are used often when the car is "jacked up" or when the chassis is set-up to "seperate" on launch as opposed to "squat" on launch.
As far as reaching the nut on the back side,well if your not worried about the bolt,just cut the head off with a cut-off wheel,or a cutting torch if you have access to either.
HTH.
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