CIS Satellite 2015

Gentlemen! I have a suggestion to speed up the process, define the rules, and maybe even create a schedule. There are a few weekend days ahead, and some of you will have the opportunity to play during that time. One more person will join before the quorum, so we can reserve a spot for them in the schedule.
What rules should we use? Single elimination? Or maybe up to 2 losses, so it won't be too disappointing to be eliminated early.