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Space Start-up Collapses, Owes NT Govt $5m

A space start-up once considered the future of Australia's space launch industry has collapsed into liquidation, still owing the Northern Territory government $5 million.

The space start-up, which had been positioned as a pioneer for Australia's space launch capabilities, has entered liquidation proceedings. Despite successfully launching NASA rockets from the Northern Territory, the company now faces significant debt obligations to the territorial government.