fresh install SOAPUI-5.4.0 hangs on Mac laptop

I just installed SOAPUI-5.4.0 on my mac book pro. and it hangs. I have already disabled the browser plugin by adding 

-Dsoapui.browser.disabled=true 

to

Applications/SoapUI-5.4.0/Contents/vmoptions.txt file:

The error that i am seeing in 

/Applications/SoapUI-5.4.0.app/Contents/java/app/bin/error.log

is

Exception in thread "AWT-EventQueue-0" java.lang.ExceptionInInitializerError
at com.eviware.soapui.impl.wsdl.support.http.HttpClientSupport.<clinit>(HttpClientSupport.java:73)
at com.eviware.soapui.DefaultSoapUICore.initSettings(DefaultSoapUICore.java:373)
at com.eviware.soapui.DefaultSoapUICore.init(DefaultSoapUICore.java:141)
at com.eviware.soapui.DefaultSoapUICore.<init>(DefaultSoapUICore.java:126)
at com.eviware.soapui.DefaultSoapUICore.createDefault(DefaultSoapUICore.java:105)
at com.eviware.soapui.SoapUI.getSettings(SoapUI.java:1580)
at com.eviware.soapui.SoapUI$SoapUIRunner.run(SoapUI.java:716)
at java.awt.event.InvocationEvent.dispatch(InvocationEvent.java:311)
at java.awt.EventQueue.dispatchEventImpl(EventQueue.java:756)
at java.awt.EventQueue.access$500(EventQueue.java:97)
at java.awt.EventQueue$3.run(EventQueue.java:709)
at java.awt.EventQueue$3.run(EventQueue.java:703)
at java.security.AccessController.doPrivileged(Native Method)
at java.security.ProtectionDomain$JavaSecurityAccessImpl.doIntersectionPrivilege(ProtectionDomain.java:80)
at java.awt.EventQueue.dispatchEvent(EventQueue.java:726)
at java.awt.EventDispatchThread.pumpOneEventForFilters(EventDispatchThread.java:201)
at java.awt.EventDispatchThread.pumpEventsForFilter(EventDispatchThread.java:116)
at java.awt.EventDispatchThread.pumpEventsForHierarchy(EventDispatchThread.java:105)
at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:101)
at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:93)
at java.awt.EventDispatchThread.run(EventDispatchThread.java:82)
Caused by: java.lang.NullPointerException: ProxySelector must not be null.
at com.btr.proxy.selector.whitelist.ProxyBypassListSelector.<init>(ProxyBypassListSelector.java:39)
at com.btr.proxy.selector.whitelist.ProxyBypassListSelector.<init>(ProxyBypassListSelector.java:54)
at com.btr.proxy.search.desktop.osx.OsxProxySearchStrategy.installExceptionList(OsxProxySearchStrategy.java:224)
at com.btr.proxy.search.desktop.osx.OsxProxySearchStrategy.buildSelector(OsxProxySearchStrategy.java:141)
at com.btr.proxy.search.desktop.osx.OsxProxySearchStrategy.getProxySelector(OsxProxySearchStrategy.java:113)
at com.btr.proxy.search.desktop.DesktopProxySearchStrategy.getProxySelector(DesktopProxySearchStrategy.java:34)
at com.btr.proxy.search.ProxySearch.getProxySelector(ProxySearch.java:193)
at com.eviware.soapui.impl.wsdl.support.http.ProxyUtils.setGlobalProxy(ProxyUtils.java:187)
at com.eviware.soapui.model.propertyexpansion.PropertyExpander.<clinit>(PropertyExpander.java:80)
... 21 more