Soulpower Acquisition says BVI court clears Bank of Asia asset sale to SWB LLC
SOUL•Regulatory approvals still needed
- SWB still needs a BVI banking licence from the Financial Services Commission, with its application under review.
- Deposit protection membership approval from the Virgin Islands Deposit Insurance Corporation is also required before SWB can conduct banking activities.
BVI court clears selected asset sale to SWB LLC
- BVI High Court cleared Bank of Asia (BVI) liquidators to sell selected assets to SWB LLC under a November 6, 2025 asset sale agreement.
- The court order, granted July 23, satisfies one closing condition; other conditions remain outstanding.
Soulpower combination remains subject to closing conditions
- The proposed business combination with Soulpower Acquisition Corporation and SWB Holdings remains subject to closing conditions, including Soulpower shareholder approval.
