Last year i was contacted by a company to do there website, all was agreed so i went out and brought the domain names on my account ready to start. Something went wrong and i never heard from the company again, for reasons im not sure about but, i thought well i have your domains so if they want them in the future they will have to come through me anyway. These Domains are still in my account with no forwarding or anything setup. I went to check today and there is a site hosted on the domain !!!!!!!!! how can this be possible ? it's a .co.uk
Similar thing happened to me but it was with a hosting. I purchased a hosting for my clients and they stopped paying. By the way I don't like godaddy. I have had bad experience with them and you can also find too many bad reviews about godaddy. Can you PM the domain too? I am also curious.
ive been with godaddy for years for hosting and domains and never had a problem with them...but to the op what happened to you is uncalled for someone needs to fix it... Did you give anyone your account info?
It comes down to 'entitlement'. The company in question have a fairly unique trading name and they have successfully made an application to the overseeing body, Nominet, to gain control of the name.