It was a big day for all involved at Virgin Australia as administrator Deloitte fronted creditors and would-be buyers got stuck into the company's information memorandum.
Among both groups - creditors and tyre-kickers - there are plenty of games going on.
For the buyers, it's about finding the right consortium or angle to be well-positioned come indicative bids on May 15 and, more importantly, when binding bids are called about a month later.
For the creditors, it's about working out what to do now to make sure they get paid later.
The Virgin management's business plan, due shortly, is the next document both groups are watching out for. There is considerable interest in what Deloitte/Paul Scurrah think it will cost to get the airline back up and running at full capacity.
In terms of buyers, we unveiled another party mulling a bid on Thursday; one from the far left field. It is iron ore magnate Andrew Forrest, who is trying to work out whether he can find the right angle, just like private equity firms BGH Capital, Bain Capital, Macquarie/Brookfield and the rest.
