The fate of two of Hawaii’s oldest microbrew beer brands — whether they continue to be made and where — could be decided today at a U.S. Bankruptcy Court auction in Honolulu.

Current owners of Hilo-based Hawai‘i Nui Brewing LLC, which produces Mehana and Hawai‘i Nui brand beers, want to retain ownership of the financially troubled company, which was created in 2007 to acquire Kauai-based Keoki Brewing Co. and which merged in 2009 with Hilo-based Mehana Brewing Co.

The two breweries date from the 1990s. Keoki became Hawai‘i Nui and moved to Hilo after the Mehana deal. Hawai‘i Nui filed for bankruptcy April 9; an auction was set quickly because the firm has little cash.

Former owners of Mehana had sought to have Hawai‘i Nui liquidated through a Chapter 7 sale of assets, but Bankruptcy Judge Robert Faris allowed the auction to proceed as a Chapter 11 case aimed at reorganizing debts as operations continue.

But bidders may bid on only parts of Hawai‘i Nui, which could lead to a shutdown. Such partial bids would be weighed against other bids in terms of what is better for creditors.

Another factor is a pledge by Mehana’s former owner to evict Hawai‘i Nui from its brewery building if the current owners of Hawai‘i Nui win the bidding, according to a statement by Johnathan Bolton, an attorney representing the building owner.

Hilo Soda Works Inc. leases its brewery building to Hawai‘i Nui, and claims it is owed about $85,000 in rent dating back to June on a lease that expired last year. Hilo Soda is led by Calvin Shindo, whose son, Dustin Shindo, started Mehana and sold his share after the merger for $350,000 but is still owed about $340,000.

Another firm with a major stake in the outcome of the auction is liquor distributor Paradise Beverages, which is owed about $375,000.

One of Hawai‘i Nui’s principals, Nina Lytton, is owed more than $320,000 and is involved in the firm Hawaii Ohana Brewing LLC, formed to lend Hawai‘i Nui $250,000 to keep brewing operations going in bankruptcy.

Hawaii Ohana Brewing, which also involves Hawai‘i Nui principal Andy Baker, is bidding to keep control of the brewer for the value of its emergency cash investment.

“If someone else wants to outbid this lender (Ohana Brewing) … they’re more than welcome,” Chuck Choi, an attorney representing Hawai‘i Nui, said in a preliminary hearing last month. “The lender is trying to save the business — not get a sweetheart deal.”