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Well, I spoke to nominet and the answer was that it belongs to the web developer and there's not a lot can be done about it since they operate a "first come first served" basis.
I pointed out the domain is:
the company name
was bought for them
is populated with information about them
etc
But to no avail - the chap I spoke to suggested either a drs or legal advice.
Seems a bit daft to me, what's happened is pretty straightforward really.
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