December 6, 2024

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Creative Belgrave Management previously known as Falcon Capital Management fails to pay £500,000 to Calimera Capital Partners as ordered by the London Country Court

The County Court at Central London satisfied the claim by Calimera Capital Partners against Falcon Capital Management and Tej Singh back in January 2024. It ordered the defendants to pay Calimera the debt of more than half a billion pounds by the 14th of February 2024, as well as more than a hundred thousand pounds of legal costs.

As of end of July 2024 no payments have been made by the guilty party, neither have there been any other steps made to comply with the court order. However, it has just become known that Falcon Capital Management, a hedge fund incorporated in the Cayman Islands, has changed name to Creative Belgrave Management, though continues be managed by CEO of Falcon Investment Management Benny Menashe and Israeli lawyer Yaron Berenholtz.

Olga Baeva, Director of Calimera Capital Partners, commented on the court decision and the latest developments: “After the univocal judgement of the Central London Country Court, we hoped that both Creative Belgrave Management and Tej Singh would realize that it is in their best interests to settle the matter promptly. Changing the name of the entity will not affect our determination to identify their assets and resort to all the means necessary to recover the debt.”

In November 2018, Falcon Capital 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. Therefore, the claim by Calimera Capital Partners against Falcon Capital Management – now Creative Belgrave Management – and Tej Singh was satisfied by the County Court at Central London in full.