Earth.com files for bankruptcy, owing $5 million for domain name

Domain investor is the largest creditor.

Earth.com home page
Earth.com filed for bankruptcy, owing Innovation HQ $5 million for the valuable domain name.

Earth.com has filed for bankruptcy in Colorado, leaving domain investor Innovation HQ waiting for a resolution on a long-term domain deal.

According to the filing, Earth.com owes Innovation HQ, Inc $5 million for a “rent to own domain name sales agreement.”

The company has been operating at earth.com for many years, so it’s not clear if the $5 million number was the total amount agreed to in the rent-to-own agreement.

Most rent-to-own agreements use an escrow agent or third party that immediately reverts control of the domain if the lessee is delinquent on payments. Alternatively, the lessor holds onto the domain itself, only changing nameservers at the lessee’s request.

Business Den, a publication in Colorado, notes that the owner has been sued multiple times.

According to the bankruptcy filing (pdf), Innovation HQ is the biggest creditor by far. ContentIQ Marketing is the second biggest at just $230,000.

Post link: Earth.com files for bankruptcy, owing $5 million for domain name

© DomainNameWire.com 2023. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact editor (at) domainnamewire.com. Latest domain news at DNW.com: Domain Name Wire.

Back to top button