Posted In: Internationalized Domain Names, Uncategorized

Debt can be covered by auction

In a case in Shanghai,the first of its kind, a domain name can be seized and auctioned off to cover debt. The ruling happened when a client didn’t pay off a debt to a film company running around 20,000 dollars. The website was frozen when the courts learned of the debts. Luckily a company linked with the domain name came forward and paid the debt off. The ruling of the court case had been at an impasse since 2007, however the company who had bought the video claimed they had no resources to pay for it. There has been no case of its kind in China, however Chinese authorities were not sure about the rest of the world. To read further click here.