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E-Malt.com Newsletter 35b
August 27 - August 30, 2020
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on August 28, 2020 |
Base Currency: Canadian Dollar
on August 28, 2020 |
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1 USD = 0.8457 EUR
1 USD = 0.7572 GBP
1 USD = 1.3138 CAD
1 USD = 1.3795 AUD
1 USD = 106.2200 JPY
1 USD = 5.5923 BRL
1 USD = 75.1846 RUB
1 USD = 6.8856 CNY
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1 CAD = 0.7610 USD
1 CAD = 0.5763 GBP
1 CAD = 0.6436 EUR
1 CAD = 1.0498 AUD
1 CAD = 80.8400 JPY
1 CAD = 4.2559 BRL
1 CAD = 57.2176 RUB
1 CAD = 5.2401 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Mexico: Mexico president suggests Constellation Brands setting up new plant in the south of the country
...Click here
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Canada: Barley exports forecast to total 3 mln tonnes both in 2019/20 and 2020/21
...Click here
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USA: Slim cans account for 20.4% of off-premise can beer dollar sales
...Click here
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USA, AZ: Michael Waltrip Brewing Company coming to Arizona soon
...Click here
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USA, TX: Circle Brewing starts construction of new brewery in Elgin
...Click here
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Canada, ON: Heritage Hops Brew Co. opens its doors in downtown Stratford
...Click here
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USA, WI: Hop Haus Brewing Company’s Fitchburg location set to open on September 1
...Click here
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USA, OH: The Warped Wing Barrel Room & Smokery opens its doors in Springboro
...Click here
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USA, AZ: Roses by the Stairs Brewing scheduled to open in early 2021
...Click here
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USA, LA: Flying Heart Brewing & Pub to break ground on second location on September 3
...Click here
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USA, MI: Proposed brewery on Seven Mile in Livonia planning 2021 opening
...Click here
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China: Beer sales seem to have recovered this summer - report
...Click here
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World: Carlsberg continues to champion the long-term potential of the alcohol-free beer category
...Click here
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Germany: Wheat crop expected to fall by 5.1%, winter barley by 9.4% this year
...Click here
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Nigeria: Guinness Nigeria sees revenue drop by 21% in the year to June 30
...Click here
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China: China on a buying spree of all grains and soybeans
...Click here
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Argentina & China: Argentine barley shipments streaming toward China
...Click here
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The Dominican Republic: Beer consumption severely hit by Covid-19 pandemic
...Click here
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Japan: Kirin Brewery to launch Japan’s first carb-free beer on October 6
...Click here
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UK: Craft brewer Beavertown opens “London’s largest brewery”
...Click here
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India: United Breweries Holdings expresses intent to settle its dues to 14 banks
...Click here
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Graph of the Week
Table of the Week
Germany Hop Area and Production and Alpha Acid Output 2010-2020f
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 August
1910 - Mother Teresa was born (Agnes Gonxha Bojaxhiu), Yugoslavia, Nobel 1979
1950 - 1st transmission of a TV program from continental Europe shown on BBC
1965 - Le Corbusier, (Charles Jeanneret), Swiss/French architect, dies at 77
28 August
1565 - Oldest city in the US, St Augustine Fla, established
1828 - Lev Tolstoi was born, Russian writer (War & Peace, Anna Karenina) [OS]
1963 - Martin Luther King Jr's "I have a dream" speech held at Lincoln Memorial
29 August
1831 - Michael Faraday demonstrates 1st electric transformer
1854 - Self-governing windmill patented (Daniel Halladay)
1885 - Gottlieb Daimler registers his "Reitwagen" ("riding carriage") as German patent DRP No. 36423
1922 - The first radio advertisement is broadcast on WEAF-AM in New York City
30 August
1895 - Belgium begins compulsory Roman Catholic education
1979 - 1st recorded occurrance-comet hits sun (energy=1 mil hydrogen bombs)
1993 - 150,000,000 millionth visitor to Eiffel Tower
Agenda
September 2020:
02 - 05: Expo Trade, Brewers Conference & Mar del Plata Beer Week 2020 (Mar del Plata Argentina)
05 - 05: Copa Cervezas de America 2020 (Award Ceremony) (Mar del Plata, Argentina)
11 - 13: The Great British Beer Festival 2020 (virtual) (Virtual)
11 - 13: Mondial de la Biere - Paris 2020 (Paris, France)
14 - 25: Craft Brewing Online 2020 (Online)
18 - 08 October: WBC Connect 2020 (Online)
24 - 26: Stockholm Beer & Whisky Festival 2020 (Stockholm, Sweden)
October 2020:
02 - 03: Stockholm Beer & Whisky Festival 2020 (Stockholm, Sweden)
08 - 11: Mondial de la Biere 2020 (Montreal, Canada)
13 - 16: China Brew & China Beverage (CBB) 2020 (Shanghai, China)
14 - 16: Expo Antad & Alimentaria Mexico 2020 (Expo Guadalajara, Mexico)
16 - 17: Great American Beer Festival 2020 (Online)
19 - 20: Planete Biere 2020 (Paris, France)
21 - 24: Beer 2020 (Sochi, Russia)
23 - 25: Cerveza Mexico Expo 2020 (Mexico City, Mexico)
26 - 28: 107 Brewing and Engineering Conference 2020 (Leipzig, Germany)
29 - 30: Sea Brew 2020 (Taipei, Taiwan)
30 - 01 November: Brussels Beer Challenge 2020 (Brussels, Belgium)
November 2020:
04 - 07: VIETFOOD & BEVERAGE - VIETNAM 2020 (Ho Chi Minh City, Vietnam)
10 - 12: Brau Beviale 2020 (Nuremberg, Germany)
11 - 11: European Beer Star 2020 - Award Ceremony & Winners' Night (Munich, Germany)
18 - 22: Mondial de la Biere Rio 2020 (Rio de Janeiro, Brazil)
20 - 21: Beervana 2020 (Wellington, New Zealand)
25 - 27: Drink Japan 2020 (Tokyo, Japan)
December 2020:
09 - 11: Drink Technology India 2020 (Mumbai, India)
February 2021:
05 - 07: Finest Spirits 2021 (Munich, Germany)
09 - 13: Great British Beer Festival Winter 2021 (The New Bingley Hall, Birmingham, UK)
11 - 15: HoReCa 2021 (Athens, Greece)
21 - 24: Beer & Food Attraction 2021 (Rimini, Italy)
March 2021:
02 - 04: Beviale Mexico 2021 (Centro Citibanamex, Mexico City)
23 - 25: Beviale Moscow 2021 (Moscow, Russia)
29 - 01 April: Craft Brewers Conference & BrewExpo America 2021 (San Diego, California, USA)
April 2021:
08 - 10: Zurich Bier Festival 2021 (Zurich, Switzerland)
17 - 18: Zythos Beer Festival 2021 (Leuven, Belgium)
30 - 01 May: Tallinn Craft Beer Weekend 2021 (Tallinn, Estonia)
May 2021:
12 - 14: Craft Beer China 2021 (Shanghai, China)
17 - 23: Budapest Beer Week 2021 (Budapest, Hungary)
27 - 29: Copenhagen Beer Festival 2021 (Copenhagen, Denmark)
27 - 30: Wiener Bierfest 2021 (Vienna, Austria)
June 2021:
13 - 15: Bangkok Brewing Conference 2021 (Bangkok, Thailand)
15 - 17: Brasil Brau 2021 (Sao Paulo, Brazil)
July 2021:
13 - 15: Fdt Africa 2021 (Midrand, South Africa)
News Articles
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Mexico: Mexico president suggests Constellation Brands setting up new plant in the south of the country
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Mexico’s president said on August 26 that U.S. brewer Constellation Brands should put a planned $1 billion plant in the country’s water-abundant, but poor, south, rather than in the dry northern border city of Mexicali, Brikwire reported.
The project to build the brewery in Mexicali was rejected this year in a public referendum promoted by President Andres Manuel Lopez Obrador and blemished by low voter turnout.
Opponents of the project have said the plant poses a threat to the local water supply.
Lopez Obrador said the federal government would not issue permits to build the plant anywhere in Baja California, the arid state in Mexico’s northwest where Mexicali is located.
“I’ve already spoken with plant’s directors, we agreed that they were going to look for options, but not in Baja California,” said Lopez Obrador at his daily press briefing.
Constellation brews several brands of Mexican beer, including Corona and Pacifico, exclusively for the U.S. market, making the border location attractive from a transport perspective.
Instead, Lopez Obrador urged the company to look for options where water is plentiful, mentioning locations in the states of Chiapas, Oaxaca, and Tabasco.
“70% of the country’s water is in the southeast,” said Lopez Obrador, who has made a top priority
...More info on site
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Canada: Barley exports forecast to total 3 mln tonnes both in 2019/20 and 2020/21
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For 2019-20, Canadian barley exports are expected to be slightly below the year-earlier level (at 3 mln tonnes) due to lower exports of barley
...More info on site
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USA: Slim cans account for 20.4% of off-premise can beer dollar sales
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Aluminum cans are in short supply, and the shortage comes at a time when the can package is becoming more important to the beer category as US brewers shift their focus to off-premise sales during the pandemic, Brewbound reported on August 26.
Market research firm Nielsen’s latest report highlights the growth and importance of cans to the beer category. The firm reported that aluminum cans now account for 64% of beer category dollar sales in off-premise retailers, and dollar sales have increased 25% since the start of the pandemic in early March.
For the 52 weeks ending August 8, craft can dollar sales are up 30.4%, to nearly $2.7 billion. In the latest 26 weeks, craft can sales in off-premise retailers have increased 36.4%, to more than $42 million.
Driving much of the growth in the beer category has been slim cans, which have increased sales 107% during the COVID-19 weeks (first week of March through August 15) compared to the same period last year. Slim cans now make up 20.4% of beer category can dollar sales, an increase of 13% compared to the pre-COVID-19 timeframe.
Of course, much of the slim can growth is attributable to the top hard seltzer brands, such as
...More info on site
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USA, AZ: Michael Waltrip Brewing Company coming to Arizona soon
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Former race car driver and Daytona 500 champion, Michael Waltrip, announced on August 25 that he has launched a new brewing company that will be based in Phoenix and plans to open a taproom later this year, ABC15 Arizona reported.
The company - Michael Waltrip Brewing Company - will have a production facility in Phoenix and its beers will be labeled under the "Two-Time" brand, according to a news release.
Currently, the brewing company is based in Texas and has three beers on its lineup: Checkered Past IPA, Blonde Ale, and Vamanos, a Mexican lager. Seasonal brews and year-round selections will be added, the release said.
The three beers will be available in some states beginning in September, though it wasn't immediately clear which states and where.
"We are making the styles of beer that I love to drink whether I’m at the track, on the golf course or just relaxing. It’s going to be great to share my Two-Time creations with everyone," Waltrip said in a statement.
He has partnered with Bryan R. Sperber, former president of ISM Raceway (now Phoenix Raceway), and J. Glynn Gross, president of Texas-based Noral Holding Company, on the project.
Waltrip did not announce specifically where the production facility nor
...More info on site
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USA, TX: Circle Brewing starts construction of new brewery in Elgin
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Construction has officially started on Circle Brewing’s new 13,000 square-foot brewery and taproom in Elgin, Texas - 23 miles east of their current location in North Austin, the Elgin Courier reported on August 27.
Brewery employees, city leaders, and architects from Dick Clark + Associates, the firm designing the facility, gathered in a socially distanced manner to break ground on the new site that sits on a 22 acre plot of land just 5 minutes from Historic Main Street, in downtown Elgin.
“When Jud and I started Circle Brewing in 2010, we knew that our ultimate dream was to eventually move a little further from the city and build a sustainable farm-style brewery. One of our leading principles is simplicity – simplicity in brewing, simplicity in design – and there is nothing simpler than getting back to nature and getting your hands dirty,” Ben Sabel said. After numerous setbacks, and amidst a global pandemic, Ben & Jud are finally seeing that dream come to life. “It’s been a difficult 2020, to say the least, but it was important for us to keep moving forward and lay the foundation for the future.”
Circle Brewing selected the award-winning Dick Clark + Associates - with extensive
...More info on site
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Canada, ON: Heritage Hops Brew Co. opens its doors in downtown Stratford
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Ontario’s newest brewery and taproom has opened its doors in downtown Stratford, although the location, staff, and many of its beers will already be familiar to area drinkers, the Canadian Beer News reported on August 26.
Heritage Hops Brew Co. has been opened in the historic Herald Building, a spot that was home to Herald Haus Brewing from late 2018 until its closure earlier this year.
While the new owners have no direct connection to the previous company, they have brought back many of the Herald Haus staff members, including head brewer Jon Zippel, and have also retained several Herald Haus brands including 21 Haze IPA, Perth County Conspiracy Pale Ale, and Abandoned at the Altar Raspberry Sour.
Heritage Hops Brew Co. is located at 21 Marketplace in Stratford.
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USA, WI: Hop Haus Brewing Company’s Fitchburg location set to open on September 1
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The first brewing and canning facility in Fitchburg is set to open on Tuesday, Sept. 1 and will bring new jobs with it, WMTV – NBC15 reported on August 28.
The Hop Haus Brewing Company announced in a news release that the new location will create more jobs for full-time bar and restaurant managers, kitchen staff and nearly 25 servers.
The new location will open at 11:00 a.m. at 2975 Sub-Zero Parkway.
A spokesman for the company said that the new location will not affect the original Hop Haus in Verona, which the company has operated a leased space for five years.
“With the construction of two new neighborhoods, a new church, an expanded Sub-Zero facility, and a new Race Day Events operations center all around us, we are excited to be a part of the growing Fitchburg economy,” said Hop Haus owner and brewmaster Phil Hoechst. “We look forward to sharing our unique beers, restaurant, and full-service bar to new friends in Fitchburg and the surrounding area.”
Hoechst said keeping the Verona location viable, while completely shut down due to the pandemic and preparing for a new location was incredibly difficult. He noted they are following all local and county health guidelines to ensure
...More info on site
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USA, OH: The Warped Wing Barrel Room & Smokery opens its doors in Springboro
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Warped Wing Brewing Co., a Dayton, Ohio based brewery, announces its official opening of The Warped Wing Barrel Room & Smokery. The unique barrel-aged facility, taproom, eatery and test pilot brewery is located at the new Wright Station development, in the heart of downtown Springboro, Ohio, the Craft Brewing Business reported on August 26.
The 20,000 square foot facility boasts a large taproom with outdoor biergarten and a flexible event space. The remaining facility will accommodate up to 400+ aging barrels along with a small-scale brewery and distribution hub.
Warped Wing will provide a one-of-a-kind experience for patrons. Special customer programs are being developed such as a Barrel Club Reserve membership, which will allow members to get up-close, hands-on tour experiences, exclusive tastings and first offering purchases of extremely limited bottles.
Warped Wing has won accolades for a series of their barrel-aged products such as “Whiskey Rebellion”. They continue to develop many other brands within their traditional beer and barrel-aged portfolio.
“Our barrel-aging program has propelled us into an interesting place” said Nick Bowman, co-founder and VP of Sales and Marketing. “My partner, Co-founder and Brewmaster John Haggerty has a wealth of knowledge and experience with brewing and barrel aging. He pushes the creativity
...More info on site
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USA, AZ: Roses by the Stairs Brewing scheduled to open in early 2021
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A new brewery will take over a recognizable building on McDowell Road in Phoenix, AZCentral.com reported on August 26.
Roses by the Stairs Brewing, a "farmhouse-inspired brewery," will open inside of the former Easley's Fun Shop building near downtown Phoenix. The well-loved local costume shop celebrated its last Halloween in 2018 after serving the community for 72 years.
Roses by the Stairs owner Jordan Ham signed a lease on the space, according to a social media post made in late May.
The brewery is scheduled to open in early 2021, according to the business' Instagram page.
If reading the name of the new brewery gets a certain song stuck in your head, that's because it borrows a line from the song "All The Small Things," from Blink-182's album "Enema of the State."
The brewery's logo also includes a rose, drawn by local handmade paper company Prickly Pear Paper. Around the rose text reads "Spontaneous and Seasonal Farmhouse Ales."
Already Roses by the Stairs has produced beers in collaboration with other craft breweries. The new brewery partnered with Dillinger Brewing Company of Tucson to take part in the Black Is Beautiful project, during which brewers created beers to help raise
...More info on site
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USA, LA: Flying Heart Brewing & Pub to break ground on second location on September 3
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Flying Heart Brewing & Pub will break ground on their second location at 204 Commerce Street, West Monroe, Louisiana on Thursday, Sept. 3, at 11 a.m., My New Orleans reported on August 26.
Details for the location will be revealed at the groundbreaking.
The property is located on the riverfront in downtown West Monroe.
Flying Heart Brewing was founded in August of 2014 and began operating as a distributing brewery and tasting room in May of 2015. In January of 2018, the company converted its license to become a brewpub, changed its name to Flying Heart Brewing & Pub, and added a full hand crafted pizza kitchen to its location.
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USA, MI: Proposed brewery on Seven Mile in Livonia planning 2021 opening
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A planned brewery in northeast Livonia is expected to open its doors next year after delays related to the COVID-19 pandemic that slowed economic activity in the state for months, Hometownlife.com reported on August 25.
The proposed brewery at 27719 Seven Mile requested a one-year extension of its approvals to allow work to continue past the original time frame because of the slowdowns with construction in recent months.
"The petitioner in the letter explains the due to the pandemic, operations were halted in early March 2020 to just recently," said Mark Taormina, the city's planning and economic development director. "This would allow them the time to get qualified contractors and for them to obtain building permits.
"It's strictly an extension of what we previously approved."
The plans call for a complete renovation of the building, which formerly housed a carpet and flooring business. Work on the parking lot would also take place and a small beer garden would also be added to the property. The space would only serve beer; no kitchen is planned at the site.
The project originally received a recommendation for approval from the planning commission in spring 2019 and received city council approval a few months later.
Andrew Schumacher, one of the
...More info on site
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China: Beer sales seem to have recovered this summer - report
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The coronavirus pandemic shut down bars at the beginning of 2020, but brewery sales have risen since May along with the temperature. China's beer sales are said to have recovered this summer, CGTN reported on August 28.
But it turns out the improved sales are being driven by more than just "boys' nights out" - women are now a growing segment of beer consumers in China.
CGTN visited a bar in downtown Shanghai, which said its beer sales have fully recovered. "We're selling 120 litres every night. It's only getting better since the pandemic - 120 or 150 customers a night," said Allan Ming, bar manager at Commune Reserve.
The bars are not alone: convenience store chain Bianlifeng's beer sales in July were up 20 percent from the previous month, not unusual in the summer as beer consumption can be a very seasonal activity.
But this year it turns out that a major contributor to the improved sales are women. The number of women purchasing beer is up nearly 30 percent from the same period last year. Bianlifeng said one element attracting the ladies to the lager is the increasing number of flavors on offer.
"There are more beer flavors with low alcohol content now,
...More info on site
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World: Carlsberg continues to champion the long-term potential of the alcohol-free beer category
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Carlsberg continues to champion the long-term potential of the alcohol-free category, which it sees being fuelled by an increased awareness of health and well-being among consumers as a result of the coronavirus pandemic. It pledges to keep investing in the category, BeverageDaily.com reported on August 28.
Overall, alcohol-free brews grew by 9% in Western Europe over the first six months of 2020, according to the brewer’s H1 2020 results.
And the company is responding to a heightened focus on health and wellness among consumers: with new innovations in both low-alcohol and low calorie drinks.
Carlsberg launched its 0,0% alcohol-free Tuborg Zero in Denmark on May 1. After one month, it had become the best-selling 0,0% beer in the country, according to the brewer. And Carlsberg is also putting its foot on the gas for low-calorie innovations, with the launch of two hard seltzer brands in Norway and Singapore in May.
Carlsberg has long set out low-alcohol and alcohol-free as a key growth area for the company: and says that this priority remains unchanged by the pandemic (Pre-pandemic, it was seeing around 16% volume growth in its alcohol-free brews, against 1% growth for its core beer portfolio).
In the low/no alcohol category, Carlsberg 0.0
...More info on site
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Germany: Wheat crop expected to fall by 5.1%, winter barley by 9.4% this year
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Germany's 2020 wheat crop of all types is expected to fall by 5.1% to 21.88 million tonnes, the agriculture ministry estimated on August 28.
A
...More info on site
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Nigeria: Guinness Nigeria sees revenue drop by 21% in the year to June 30
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Guinness Nigeria Plc, a public company quoted on the Nigerian Stock Exchange (NSE), has released its financial statements for the year ended 30 June
...More info on site
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China: China on a buying spree of all grains and soybeans
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The CADA (Chinese Assn.) conference in Beijing produced the following figures: Chinese beer output in 2019 was 376.5 mln hl, malt input 8.3 kg/hl.
...More info on site
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Argentina & China: Argentine barley shipments streaming toward China
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Argentine barley shipments have started streaming toward China after a three-year lull as a trade conflict between Asia’s top buyer and main supplier Australia
...More info on site
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Spain: Barley crop to reach new record this year
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The Spanish barley crop estimates range from 10.3 mln tonnes by the Ministry of Agriculture (May estimate) to 11.24 mln tonnes by ACCOE (Grain
...More info on site
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The Dominican Republic: Beer consumption severely hit by Covid-19 pandemic
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The new coronavirus pandemic has put pressure on some of Dominican Republic’s traditionally more robust sectors, even at levels that could hardly have been anticipated, in the opinion of economist Henri Hebrard, the Dominican Today reported on August 27.
According to the researcher, one of the sectors most severely hit by the country’s health and economic crisis is that of beer, which has seen its sales plummet by 41.9% in March to June compared to the same period of 2019. The peak fall of 73% was registered in April, according to data from the General Directorate of Internal Taxes (DGII).
However, for Hebrard, this decline in the beer sector, in particular, lead to more concern about the characteristics of this industry, which has a robust, productive chain by involving, in addition to direct jobs, a wide range of suppliers and services such as printing, fuel consumption, investment in advertising and other areas.
“These commercial relationships have an impact on the economy, and a very important one,” Hebrard said.
On the other hand, the economist said that distilled products such as rum and whiskey, instead of losing ground, have increased their sales by 8.4%
As a direct consequence, the expert points out that the market share
...More info on site
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Japan: Kirin Brewery to launch Japan’s first carb-free beer on October 6
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Japan's Kirin Brewery Co. said on August 27 it will launch the country's first carb-free beer product on Oct. 6, Nippon.com reported.
The company expects the zero-carb version of its flagship "Ichiban Shibori" beer to win new customers at a time when more and more people are becoming health-conscious as they tend to stay home amid the coronavirus epidemic.
The Kirin Holdings Co. unit reviewed ways to select and process malt to create a clear taste and rich malt flavor. The new product is expected to retail for around 221 yen for a 350-milliliter can.
"We want to nurture the new product to become the second pillar" of the company's beer lineup, Kirin Brewery President Takayuki Fuse said at a press conference.
The liquor tax on beer and quasi-beer is scheduled to be unified in stages by 2026. As part of the process, the beer shipping price is set to be lowered by 7 yen for a 350-milliliter can in October this year.
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UK: Craft brewer Beavertown opens “London’s largest brewery”
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Craft brewery Beavertown has opened “London’s largest brewery” in an expansion which will create 150 more jobs, MinuteHack reported on August 27.
The brewery, founded by Logan Plant, the son of Led Zeppelin frontman Robert Plant, has been funded using a £40 million minority investment in the business by Heineken in 2018.
He said the new site in Enfield, dubbed Beaverworld, will make 90 million pints every year as the fast-growing brewer increases its capacity by tenfold.
Builders started work on the site early last year and now the brewery is recruiting for 150 more staff as it starts selling its first beers produced at the site.
Mr Plant said the expansion will help drive his aim of getting the beer “in the hands of people in every pub on every street corner”.
“It’s been quite the journey to turn this from home brewing at the kitchen table to making beer in London’s biggest brewery,” he told PA.
“It’s been three years in the planning, from when we needed to expand from the Tottenham Hale brewery.
“This is even bigger than we first planned and really does show the leaps and bounds we’ve been able to make.”
He said the development of the site was delayed by around
...More info on site
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India: United Breweries Holdings expresses intent to settle its dues to 14 banks
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Fugitive liquor baron Vijay Mallya's United Breweries Holdings Limited (UBHL) on August 27 expressed the intent to settle its dues worth over Rs 14,000 crore to a consortium of 14 banks, the Financial Express has reported.
Making the 'bonafide offer' to settle its dues, UBHL said the aim of bankruptcy laws is to ensure companies stay viable and the creditors are paid back their dues.
It moved the Supreme Court against the Karnataka High Court's March 6 order that upheld its February 2017 order directing the winding up of UBHL for recovery of dues payable by Kingfisher Airlines Limited. UBHL is a promoter of Mallya's now-defunct airline. A similar offer by UBHL was rejected by the state HC earlier in March this year.
In February 2017, a single-judge bench of the Karnataka HC ordered the winding up of Vijay Mallya’s UBHL in order to pay out the debts of Kingfisher Airlines which was a part of the holding company before it went bankrupt.
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