Virgin's night of long knives; TA Associates' insurance; Ansarada's six-point pitch

Good evening,

It was a huge weekend for Virgin Australia's administrator, its bankers, lawyers and all the parties in the airline's auction, with bidders asked multiple times to clarify indicative offers lodged on Friday.

As of Sunday night, Deloitte and its advisers were still trying to get the list down to a shortlist of four. There were five in the mix, including one party not previously linked to the auction, while there were also attempts to match some of the debt proposals with the equity hopefuls.

Those in contention were told the data room would open on Monday morning, and only the shortlisted would get the nod. It means another long night for all involved - and that's before shortlisted tyrekickers even get the next set of documents.

Elsewhere, American private equity firm TA Associates is set to unveil a new Australian acquisition, while Moelis' bankers have kicked off their pitch for data rooms company Ansarada.

Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd
Street Talk Editors