Hi regular newsat posters, Appreciate all the good info that's...

Hi regular newsat posters, Appreciate all the good info that's been on here.. Im in my 20's and new to share trading. I put 3 year's hard savings on Newsat : (

Anyway a question I wanted to ask before it's all over, is we shareholders raised a lot for the project ($200m odd). Exim provided a similar amount..

Now what sort of contract (Between Newsat & LM) would have a penalty clause that if you don't pay up to the last dollar.. They keep the lot? I can understand some form of penalty but I can't believe Newsat would sign for 100% loss if a default occurs.

The money didn't vanish, it has gone into a product of value that LM can sell on and in the scheme of things AB (allegedly) didn't waste a lot ($2-3m if that).

Is there any way we can find out what that penalty clause was and couldn't the class action be based around retrieving as per that clause?

I remember Exim stating they would fight for money back.
http://spacenews.com/ex-im-hasnt-given-up-on-recovering-100-million-newsat-launch/

Thanks KA111