The Complainant markets, sells and services a broad range of heavy-duty equipment serving the forestry, mining, light construction, and roadbuilding industries under the name SMS EQUIPMENT (registered trademarks in Canada in July, 2015).
The Complainant submitted that the Registrant was a partner of the Complainant's direct competitors. In a supplemental submission, the Complainant submitted evidence that the Domain Name was used in an attempted fraud.
The Panel found that the Domain Name was registered in bad faith - because the intention at the time of the registration of the Domain Name was to create a likelihood of confusion with the Complainant's SMS EQUIPMENT marks (as to source).
You can read the decision here.