UBS Fights To Finally Take Over Beer Tycoon's Property

By Joanne Faulkner (January 10, 2022, 7:16 PM GMT) -- UBS urged a judge Monday to sanction the repossession of a London property owned by Vijay Mallya, an Indian beer tycoon, arguing that the deadline to repay an outstanding £20 million ($27 million) loan to the investment bank has long passed.

Fenner Moeran QC, counsel for UBS, said in the High Court that Deputy Master Matthew Marsh should reject an application by Rose Capital Ventures Ltd. to stay the execution of a possession order for the residential property in a high-end neighborhood in Regent's Park.

Rose Capital used the house as security for a loan the company took out with the...

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