Ann: As Filed SEC Form 10-Q Q1 2025, page-47

The administrators would find it more easy to extract rebate/royalty concessions which would suit EMG fine.
If only it was that easy.
My search of insolvency Administrator obligations turned up this:
Protecting Creditors' Interests:A core duty is to act in the best interests of creditors, which includes protecting their assets and ensuring they receive the maximum possible return.
Duty to Prevent Creditor-Defeating Dispositions:Administrators have a duty to prevent the company from entering into transactions that unfairly benefit creditors, such as selling assets at significantly below market value.
And, it is to Coronado's benefit that they owe only US$400m to the NoteHolders and with relatively covenant-lite clauses.. so says the Coronado CFO. Mine assets - stated yesterday- at US$1.59bn comfortably exceed the claims of the present creditors.
If, as the CRN management says there is a risk of insolvency within 12 months then the directors must act decisively to address it. Raise capital or make dispositions of assets are the present choices.
It is conceivable that EMG could entertain a conspiracy to own the entirety of the CRN assets through engineering a default on the Notes but it's a risk to the reputation of a lot of professional people that I cannot see being entertained.