Pay.com.au secures domain name following suing seller who backed out of deal
The seller tried to hike the price from $38,000 to $380,000 following discovering Pay.com.au was the buyer, but a lawsuit must have changed his mind.
A man who backed out of a domain deal following finding out who the buyer was has capitulated following the buyer sued him.
Last month, Pay.com.au sued Dean Adams, the registrant of PayRewards.com at the time.
The firm claimed that Adams agreed to sell the domain name for $38,000, and Adams initiated a transaction through Escrow.com. Pay.com.au agreed to the transaction on Escrow.com and funded it.
As stated by the complaint, Adams attempted to renegotiate the deal following learning the buyer’s identity. Pay.com.au is a quickly growing firm that recently raised a $15 million investment round.
Adams demanded $380,000 for the domain and stated that the price would increase by 5% each week unless paid, the lawsuit stated. He also threatened to sell the domain to someone else, as stated by Pay.com.au.
On April 22, the judge granted a temporary restraining order, preventing the domain name from being transferred or deleted.
The lawsuit was apparently enough to get Adams to change his mind. As stated by Whois records, the domain has been transferred to Pay.com.au.
