When you do restructures or sales in business, you either do it “slow and clean” or “quick and dirty” this last method involving loose ends and risking some chaos to get the deal done.
That said, I’m not sure Deloittes have the money to do this slowly and still have Virgin survive. I also wonder if they even care from their own a business perspective, although I hope they do, and I hope their fee agreement reflects it.. How long did Korda Mentha take to wrap up Ansett? Ten years?
For all of your sakes, I hope Deloittes are working 24/7 to get this done NOW. Time is not on your side. You want a heads of agreement and finance organised as quick as possible. Bugger the details. That can all be sorted later. Lock in a buyer RFN.