The County Court at Central London has ruled against Falcon Capital Management and Tej Singh, ordering them to pay substantial sums to Calimera Capital Partners.
- The case stems from a breached tenancy agreement concerning a property on Montpelier Street, London, originally signed in November 2018.
- Legal complications arose as the property was occupied by Mr Singh, who was not listed in the tenancy agreement, leading to unpaid rent issues.
- Calimera Capital Partners faced challenges in enforcing the tenancy terms, resulting in a court case and subsequent judgment in their favour.
- Failure to comply with the court’s decision could lead to Calimera taking further legal actions to recover the owed amounts.
On 31 January 2024, the County Court at Central London delivered a decisive judgment in favour of Calimera Capital Partners following a claim against Falcon Capital Management and Tej Singh. The Court ruled that Falcon Capital and Mr Singh must collectively pay Calimera a sum of £487,668.64, alongside statutory interest amounting to £49,007.07 by 14 February 2024. In addition, Falcon Capital must also pay an additional £7,000 with interest of £827.80. The defendants are also accountable for Calimera’s legal costs totalling £113,653.78.
The legal conflict originated in November 2018 when Falcon Capital, a hedge fund established in the Cayman Islands and led by CEO Benny Menashe and legal counsel Yaron Berenholtz, engaged in a tenancy agreement with Calimera for a residence located at 19 Montpelier Street, London. As per the agreement, the family of Yaron Berenholtz was listed as the sole tenants. However, contrary to the agreement, the property continued to be occupied by Tej Singh.
The situation was further complicated as Falcon Capital did not ensure the vacating of the property by Mr Singh at the end of the tenancy period, leading to a breach of the contractual obligation to maintain a vacant possession after the lease termination on 7 November 2019. This breach continued until Mr Singh vacated the premises in July 2021, during which time no rental payment was received by Calimera from either Falcon Capital or Mr Singh.
Throughout the legal proceedings, inconsistencies and contradictions were noted in explanations provided by Falcon Capital and Mr Singh regarding the tenancy, its extension, and associated financial commitments. These inconsistencies played a vital role in the eventual court ruling, which was unfavourable to the defendants.
Olga Baeva, Director of Calimera Capital Partners, affirmed the clarity of the court order and expressed an expectation for Falcon Capital and Mr Singh to settle the outstanding debts promptly. Baeva also indicated that a failure to comply with the judgment would lead Calimera to take stringent actions, including asset identification, arrest, and sale, along with implementing a clawback mechanism on Falcon’s transactions to recuperate the outstanding debt.
This judgment underscores the court’s enforcement of contractual obligations and the potential consequences of non-compliance.
