Legal theatre
Tandem,
I'd say that the FAI/inquest is a little less theatrical than a trial, since the sheriff/coroner is seeking to find the cause of death without any direct monetary or criminal jeopardy hanging over the process. He/she can control which witnesses testify, and who is allowed to question them. Individuals' styles of managing the process vary, and the atmosphere can be very different from case to case.
If it came to a civil trial for compensation, then all parties are going to be pushing their own agenda, with the plaintiffs trying to blame the richest defendant, and the defendants typically trying to blame the poorest - the crew. If all are decent and sensible, then it should be more economical for all to reach a settlement by arbitration.
The AAIB's word will usually carry a great deal of weight with the arbitrator in setting up the landscape for this process.