NewSat crashes to earth in U.S. bankruptcy court

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[1] The U.S. bankruptcy court has completely severed the contract between Australia’s homegrown satellite company NewSat with Lockheed Martin who is building its Jabiru-1 satellite.

[2] This comes from NewSat’s failure to come up with financing to complete the Jabiru-1 satellite, a new communications hub for Asia, Africa and the Middle East.

[3] The court case has been a long journey for NewSat to save skin but the verdict has now sealed the termination the NewSat’s contract with Lockheed Martin.

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[Source] Australian Information Technology News – NewSat crashes to earth in U.S. bankruptcy court