329:
represents US$ 160 million (AU$ 209 million) lost, requiring an additional US$ 70 million in capital that was needed to be raised to keep the project alive. In mid-April 2015, NewSat was placed into administration to resolve the troubled financial situation and save the project; at the same time, a temporary order was issued in the US to keep the construction contracts with
Lockheed Martin and Arianespace. With funding difficulties continuing, Lockheed Martin terminated the manufacturing agreement later that month, taking ownership of the half-constructed satellite, and
325:, the Jabiru-1 satellite builder, issued NewSat a default notice due to a defaulted payment of US$ 21 million (AU$ 26.5 million); giving a period of up to 90 days to make payments without further impact. Subsequently, Lockheed Martin issued a termination notice on 22 January 2015, and on 25 February 2015, Arianespace also issued default notices due to overdue payments for the Launch Services Agreement, totaling over US$ 42 million.
257:. With the withdrawal of combat troops in Afghanistan and with the Australian mining boom winding down, the services for NewSat's teleport business started to wane. Having made a $ 39.7 million loss in the second half of 2014, and with $ 300 million in outstanding loan repayments, NewSat was placed in administration in mid-April 2015. Over the next few months, as funding difficulties ensued, its contracts with
178:
153:
128:
103:
333:, the launcher provider, terminated the launch services agreement on 4 August 2015. On 29 May 2015, the receivers terminated Mr Adrian Ballintineâs role as chief executive officer by way of redundancy. When the receivers found no buyers for the remaining assets, the company was finally liquidated in the final months of 2015.
213:
provided coverage of 75% of the Earthâs surface. NewSat was founded on 28 March 1987, then named as
Yalfaga. Its name was later changed to Browns Creek Gold and then Australian Environmental Resources. In 1999, the company was purchased by NewSat's CEO, Adrian Ballintine, and renamed MultiEmedia.com
288:
On 8 December 2011, NewSat and
Lockheed Martin entered into a fixed-price contract for the design, manufacture, testing and onâground delivery of Jabiruâ1, and its related launch mission operations. Construction of Jabiruâ1 began in January 2012 at Lockheed Martinâs Newtown, Pennsylvania facility,
311:
In mid-February 2014, with construction underway of the Jabiru-1 satellite, NewSat had paid
Lockheed Martin close to US$ 170 million, out of an expected total cost of US$ 268 million. The total project cost was expected to be US$ 600 (AU$ 664 million), including US$ 116 million for the rocket to
328:
In late March 2015, NewSat requested a trading halt due to ongoing issues with project financing, which would remain in place until negotiations with US lenders were completed. On 8 April 2015, NewSat announced that "COFACE Lender Group" would not support the waiver and not advance funds. This
336:
In August 2016, it was revealed on the current affairs program Four
Corners that NewSat had been the victim of foreign hackers. Daryl Peter, the former IT manager, said, âNewsat had been hacked and not just by teenagers in the basement or anything like that. Whoever was hacking us was very
249:, and with the purchase of New Skies Networks and its teleport facilities in Adelaide and Perth in 2005, it evolved into a fully-fledged satellite communications company, changing its name to NewSat on 1 September 2006. Most of NewSat's customers were located in Australia, the
320:
In early August 2014, NewSat got a conditional waiver over alleged breaches of financial facilities to continue with the Jabiru-1 project. At that time, it was expected that the satellite would be assembled in late 2014 and tested in 2015. On 16 December 2014,
676:
301:
312:
place the satellite in orbit in the second half of 2015. At that time, NewSat confirmed that 18% of the capacity of the satellite had already been sold, at an estimated value of AU$ 644 million.
904:
605:
344:
seeking damages of AU$ 270 million against former managing director Adrian
Ballintine and former chairman Richard Green, alleging that they both breached their directors' duties.
935:
853:
827:
300:
approved a direct loan of US$ 281 million (later increased to US$ 300.5 million) to Jabiru
Satellite Limited (a wholly owned subsidiary of NewSat), with a guarantee by
878:
945:
297:
790:
778:
718:
940:
766:
613:
743:
730:
688:
627:
555:
293:
near Kourou, French New Guinea by 25 March 2016. The launch window for Jabiruâ1 by
Arianespace was scheduled for May 2016.
273:
With Jabiru, NewSat was to be
Australia's first independently owned satellite operator to manage a fleet of commercial
652:
341:
479:
580:
368:
198:
234:. It also sold its own in-house products, such as ZoneStudio, a web development tool, and IntraZone, an early
88:
37:
530:
231:
505:
454:
282:
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132:
107:
803:
290:
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carriers and private and public organizations across the Middle East, Africa, Asia and
Australia.
305:
227:
281:. Its Jabiru-1 Ka-band satellite was scheduled to take off in 2016 and would have catered to
169:
429:
322:
258:
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on the board, it became a profitable web development company, developing the websites for
731:"NewSat gets conditional waiver to continue Jabiru-1 satellite" â IT News, 25 August 2014
404:
677:"Multi-Million Deal for Australia's First Independent Satellite Communications Provider"
581:"NewSat Emerges on Shareholders' Vote â Media Releases â IDG Communications â Australia"
27:
929:
556:"New Skies Satellites completes sale of Australian subsidiary to Multiemedia Limited"
210:
719:"All systems go for NewSat's Jabiru-1 satellite" â The Australian, 18 February 2014
246:
223:
767:"NewSat defaults on $ 26m in overdue Lockheed payments" â IT News, 27 January 2015
265:
were terminated, and its main asset was sold to SpeedCast Australia Pty Limited.
330:
262:
250:
791:"NewSat enters administration over troubled satellite" â IT News, 17 April 2015
779:"NewSat forced to halt trading over satellite funding" â IT News, 30 March 2015
235:
219:
119:
215:
202:
72:
239:
340:
In late January 2017, the receivers McGrathNicol filed an action in the
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and was scheduled to be available for shipment to the launch site at
254:
430:"BROWNS CREEK GOLD NL BWC â Profile and Status | deListed Australia"
144:
206:
905:"NewSat boss, chairman slapped with $ 270 million lawsuit"
531:"High on E . . . from top of the town to top of the world"
302:
Compagnie Française d'Assurance pour le Commerce Extérieur
714:
712:
392:
628:"NewSat's Lockheed Martin satellite contract cancelled"
337:
well-funded, very professional, very serious hackers.â
167:
142:
117:
96:
79:
67:
59:
51:
43:
33:
23:
304:(COFACE) and a stand-by facility from the British
653:"SpeedCast buys NewSat teleport sites for $ 12m"
363:
361:
359:
357:
374:. NewSat. 30 September 2013. pp. 3, 18, 19
480:"How Vizard pocketed $ 1.1m gazumping Telstra"
8:
18:
854:"Satellite company NewSat to be liquidated"
606:"Satellite leader placed in administration"
214:(later just MultiEmedia). With the help of
17:
936:Telecommunications companies of Australia
353:
298:ExportâImport Bank of the United States
393:"NewSat, Satellite Broadband Company"
7:
946:2015 disestablishments in Australia
903:Danckert, Sarah (3 February 2017).
14:
941:1987 establishments in Australia
879:"Hackers corrupt Newsat systems"
828:"NewSat CEO, CFO shown the door"
689:"Report on Jabiru Satellite Ltd"
506:"MultiEmedia goes multinational"
455:"MultiEmedia goes multinational"
177:
176:
152:
151:
127:
126:
102:
101:
1:
405:"Australia Business Listing"
962:
342:Federal Court of Australia
909:The Sydney Morning Herald
883:www.theaustralian.com.au
858:www.theaustralian.com.au
832:www.theaustralian.com.au
744:"Administrators' report"
199:satellite communications
306:Standard Chartered Bank
291:Centre Spatial Guyanais
38:Satellite communication
230:, Hamilton Island and
804:"Receivership update"
793:(accessed 2015-04-17)
781:(accessed 2015-04-14)
769:(accessed 2015-02-26)
733:(accessed 2015-02-26)
721:(accessed 2015-02-26)
616:on 24 September 2015.
296:On 14 June 2012, the
283:mobile communications
369:"ANNUAL REPORT 2013"
434:www.delisted.com.au
197:was an independent
20:
279:Ka-band satellites
228:Thrifty Car Rental
205:. Its satellites,
85:Adrian Ballintine
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138:
113:
92:
47:Adrian Ballintine
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612:. Archived from
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245:It survived the
232:Nissan Australia
186:
185:206.430 million
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160:124.655 million
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323:Lockheed Martin
318:
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259:Lockheed Martin
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135:10.449 million
125:
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82:
75:
12:
11:
5:
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957:
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610:www.smh.com.au
597:
585:www.idg.com.au
572:
547:
522:
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409:AUS61 Business
396:
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316:Funding issues
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222:owning 3% and
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63:Administration
61:
57:
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31:
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28:Public company
25:
13:
10:
9:
6:
4:
3:
2:
958:
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834:. 4 June 2015
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486:. 7 July 2005
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110:39.3 million
109:
99:
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90:
84:
78:
74:
70:
66:
62:
58:
54:
50:
46:
42:
39:
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32:
29:
26:
22:
16:
912:. Retrieved
908:
898:
886:. Retrieved
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861:. Retrieved
857:
848:
836:. Retrieved
831:
822:
810:. Retrieved
798:
786:
774:
762:
750:. Retrieved
738:
726:
699:. Retrieved
696:www.exim.gov
695:
683:
672:
660:. Retrieved
656:
647:
635:. Retrieved
631:
622:
614:the original
609:
600:
588:. Retrieved
584:
575:
563:. Retrieved
559:
550:
538:. Retrieved
534:
525:
513:. Retrieved
509:
500:
488:. Retrieved
483:
474:
462:. Retrieved
458:
449:
437:. Retrieved
433:
424:
412:. Retrieved
408:
399:
388:
376:. Retrieved
339:
335:
327:
319:
310:
295:
287:
272:
247:dotcom crash
244:
224:Steve Vizard
201:provider in
194:
193:
170:Total equity
145:Total assets
68:Headquarters
24:Company type
15:
914:12 February
888:12 February
838:12 February
701:12 February
590:13 February
565:13 February
560:www.sec.gov
331:Arianespace
263:Arianespace
251:Middle East
218:co-founder
930:Categories
863:28 January
812:24 January
752:28 January
662:24 January
637:24 January
540:24 January
515:24 January
490:24 January
464:28 January
439:24 January
414:24 January
348:References
236:SharePoint
220:Paul Allen
120:Net income
81:Key people
216:Microsoft
211:teleports
203:Australia
73:Australia
240:intranet
34:Industry
378:25 June
97:Revenue
52:Defunct
44:Founder
657:iTnews
632:iTnews
484:Crikey
269:Jabiru
255:Africa
238:-like
195:NewSat
187:(2013)
162:(2013)
137:(2013)
112:(2013)
19:NewSat
807:(PDF)
747:(PDF)
692:(PDF)
372:(PDF)
207:VSATs
916:2017
890:2017
865:2017
840:2017
814:2017
754:2017
703:2017
664:2017
639:2017
592:2017
567:2017
542:2017
517:2017
492:2017
466:2017
441:2017
416:2017
380:2014
277:and
261:and
253:and
209:and
183:US$
158:US$
133:US$
108:US$
60:Fate
55:2015
535:ARN
510:ARN
459:ARN
275:Ku-
89:CEO
932::
907:.
881:.
856:.
830:.
711:^
694:.
655:.
630:.
608:.
583:.
558:.
533:.
508:.
482:.
457:.
432:.
407:.
356:^
308:.
918:.
892:.
867:.
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816:.
756:.
705:.
666:.
641:.
594:.
569:.
544:.
519:.
494:.
468:.
443:.
418:.
382:.
91:)
87:(
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