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On January 31st, 2024 the County Court at Central London satisfied the claim by Calimera Capital Partners against Falcon Capital Management and Tej Singh, and ordered both the defendants to pay Calimera the sum of £487,668.64 together with statutory interest of £49,007.07 by the 14th of February 2024.
In addition Falcon Capital Management shall pay Calimera £7000 together with interest £827.80. Both defendants shall pay Calimera £113,653.78 on account of its costs.
In November 2018, Falcon Capital, a hedge fund incorporated in the Cayman Islands and managed by CEO of Falcon Investment Management Benny Menashe and the Israeli lawyer Yaron Berenholtz, signed a tenancy agreement with Calimera in relation to a residential property at 19 Montpelier Street, London. The tenancy agreement signed on behalf of Falcon by Benny Menashe listed Yaron Berenholtz’ family as only tenants and expired on 7 November 2019.
In contradiction to the agreement, throughout the initial agreed tenancy period Falcon Capital let the residence be occupied by Mr Singh who was not mentioned in the original tenancy agreement. Later on Falcon failed to ensure that Mr Singh left the residence and was in breach of its obligation to leave the residence vacant. Mr Singh left the residence only in July 2021.
No rent was received by Calimera from either of the defendants for the above period, while Falcon’s and Mr Singh’s statements regarding the tenancy, its extension and associated payments have proven to be inconsistent and contradictory.
Olga Baeva, Director of Calimera Capital Partners, comments on the court decision: “After this univocal judgement, it is in Falcon Capital Management’s and Tej Singh’s best interests to settle the matter promptly. In case Falcon and Mr Singh fail to comply with the court order, Calimera Capital Partners will identify both the defendant’s assets, arrest and sell them. Calimera will resort to the clawback mechanism re Falcon’s transactions to recover the debt if necessary.”
