Link Administration's proposed A$2.47 billion ($1.55 billion) deal to be acquired by Canada's Dye & Durham (D&D) fell through a month ago, after a local court denied approval, citing failure to meet key conditions.

The possibility of Britain's Financial Conduct Authority (FCA) fining the Link unit 50 million pounds, in addition to a potential 306.1 million pounds in redress over management of its now-defunct LF Woodford Equity Income Fund, played a key role in the collapse of the D&D takeover.

The unit is also being sued in the UK for up to 100 million pounds by claims management firm RGL.

The FCA did not immediately respond to a request for comment on the potential divestment of the Link unit.

Link Administration is currently is talks with D&D in relation to a revised bid, which could see the share registry firm sell its corporate markets and banking segment for A$1.27 billion.

($1 = 0.8913 pounds)

($1 = 1.5946 Australian dollars)

(Reporting by Harish Sridharan in Bengaluru; Editing by Shounak Dasgupta)