FYI WSJ Reporting Allegiance's U.S. Coal Mines Tap Lender Cash to Avert Shutdown, page-5

Collin Street's motivation seems self-explanatory to me. They want to (a) reduce the amount of loan exposure to Allegiance, and (b) take ownership of the two operating mines.

No point crying about CS acting in its own self-interest. Romcke signed off on that deal. He freely offered the mines to CS as collateral.

Also keep in mind that no so long-ago Allegiance snaked the 'Asian Customer' (breached a binding contractual agreement when it suited them to do so), so they can't claim the moral high ground on this latest development.