Recent Posts
- Alibaba, Name.com among new RDRS opt-ins
- .my domains to be sold globally next month
- The Swiss can register .swiss domains from next week
- .ai up to 425,000 domains
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- Alibaba hit with ICANN breach notice
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- ICANN 79: anonymous trolls and undercover lawyers
- ICANN scores win in single-letter .com lawsuit
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- D3 announces fourth crypto new gTLD client
- Donald Trump loses second UDRP case
- UK cybersquatting complaints hit record low
- No excuses! PIR to pay for ALL registries to tackle child abuse
- ICANN insists it is working on linkification
- Namecheap sues ICANN over .org price caps
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- Epik reveals who is running the company
- Epik gets acquired again! The plot thickens…
- Airline gTLD crashes and burns
- First chunks of new gTLD Applicant Guidebook drop
- Epik to reveal its owners soon
- Another crypto firm to apply for a new gTLD
- Monster and Royce are NOT involved in Epik?!
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- Team Internet says revenue beat estimates
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- ICANN picks its first ever Supreme Court
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- ICANN picks the domain it will never, ever release
- ICANN approves domain takedown rules
- Has Epik gone “woke”?
- First bits of new gTLD Applicant Guidebook expected next week
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- ICANN threatens to regulate your speech [RANT]
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- ICANN begs people to use its new Whois service
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- Over 50,000 .ai domains sold in three months
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- Registries and registrars vote ‘Yes’ to new DNS abuse rules
- ICANN predicts flattish 2025 for domain industry
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- ICANN picks Istanbul for 2024 meeting
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- A registrar is getting blamed for an Israeli war propaganda site
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- .blackfriday is still a bit rubbish
- Internet Naming Co acquires five more gTLDs
101domain founders suing Afilias over unpaid $1 million after $15.5 million acquisition
The two former owners of 101domain are suing Afilias over an unpaid $1 million portion of their $15.5 million acquisition deal.
And Afilias is suing them right back, claiming it doesn’t have to pay because the deal left it saddled with an undisclosed tax bill in excess of $1 million.
The suit was filed by Anthony Beltran and Wolfgang Reile, who has since died, in February and Afilias counter-sued a couple of weeks ago, but I only recently became aware of the case and I don’t believe it’s been reported elsewhere.
Afilias bought 101domain back in 2015 for a then-undisclosed sum, its first big push into the registrar side of the industry.
Court documents now reveal that the Ireland-registered company gave 90%-owner Reile and 10%-owner Beltran a combined $12.5 million cash, along with a promissory note to pay $3 million more over the next two years.
Afilias paid them the first $2 million owed in September 2016, but when it came to paying the remaining $1 million the company refused, saying it had discovered 101domain had a VAT liability from before the deal closed of around $875,000.
Last month, after the suit was filed, it re-estimated the alleged liability at over $1 million.
Under the terms of the promissory note, Afilias reckons it does not have to pay up. What’s more, it wants the two men to cover the difference between the money it owes them and the amount of the tax bill.
In their initial complaint (pdf), Reile and Beltran disputed whether the liability even exists, saying “Afilias has failed to provide an adequate accounting for the purported pre-closing VAT liability”.
Reile died April 6, but Afilias filed its counter-complaint (pdf) April 19 and the legal wheels still appear to be turning.
Beltran, who declined to comment on the case, is still listed as 101domain’s president on the registrar’s web site.
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