MELBOURNE: The Australian Securities and Investments Commission (ASIC) yesterday obtained orders in the Supreme Court of Victoria here to wind up Kantoch Pty Ltd, formerly known as Commercial IBT Pty Ltd (Commercial IBT).
Commercial IBT is also registered in Labuan under the name of Commercial IBT Bank, and was issued an offshore banking licence on April 1, 2003 by the Labuan Offshore Financial Services Authority, according to ASIC.
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