Omanghana
The High Court in Accra has dismissed an application by businessman and politician Nana Kwame Bediako, popularly known as Cheddar, seeking to temporarily prevent UK-based Cola Holdings Limited from enforcing a multimillion-dollar foreign judgment against him.
Justice Doris Awuah Dabanka-Bekoe, presiding over Commercial Division 3, rejected the injunction application on July 27, 2026, and awarded GH¢20,000 in costs against Mr Bediako.
The latest decision adds another chapter to the continuing legal dispute involving Mr Bediako, Cola Holdings and financial obligations connected to Kensington Residential Partners 1 Limited.
Application Sought to Suspend Enforcement
The application, filed on Mr Bediako’s behalf by lawyer Bobby Banson, asked the court to stop Cola Holdings from enforcing the judgment against him personally while an appeal remained pending.
That appeal challenges an earlier decision of the Accra High Court refusing to cancel the registration of the English judgment in Ghana.
The latest ruling does not determine the final merits of Mr Bediako’s substantive appeal. It means, however, that his attempt to suspend enforcement while the appeal is being considered has been unsuccessful.
English Court Awarded $14.9 Million
The underlying judgment was delivered by the High Court of England and Wales on January 23, 2025. It ordered Mr Bediako to pay Cola Holdings $14,928,314.70, or its sterling equivalent at the time of payment.
Continuing interest was also imposed at eight per cent annually, amounting to $3,271.96 for each day from January 23, 2025.
The English judgment was registered in Ghana on May 20, 2025, allowing Cola Holdings to pursue enforcement through the Ghanaian courts. An earlier application by Mr Bediako to set aside that registration was dismissed on November 27, 2025.
How the Dispute Started
The dispute arose from a loan obtained from the International Finance Corporation by Kensington Residential Partners 1 Limited, known as KRP 1. Mr Bediako and businessman Azad Cola reportedly hold shares in the company.
Cola Holdings guaranteed the loan, while Mr Bediako signed a Deed of Indemnity relating to his share of the repayment obligation.
After the loan entered default, the International Finance Corporation demanded payment from Cola Holdings as guarantor. Cola Holdings subsequently settled the outstanding obligation, after which the IFC assigned its interest in the loan to the UK-based company.
Cola Holdings then sought to recover from Mr Bediako the portion it said was covered by the indemnity. After unsuccessful attempts to obtain payment, it initiated proceedings against him in London and secured the judgment.
Mr Bediako has disputed personal liability, maintaining that the matter arose from a corporate loan rather than money advanced directly to him. He has also challenged the circumstances under which the English judgment was obtained.
Court Rejects Grounds for Injunction
In considering the application, Justice Dabanka-Bekoe examined whether Mr Bediako’s appeal raised sufficiently arguable issues to justify preventing enforcement.
His arguments reportedly included objections relating to the currency in which the debt was expressed, the interest rate and alleged violations of public policy.
The court concluded that those grounds did not present substantial enough issues to support the requested injunction.
Cola Holdings Has Identifiable Interests in Ghana
Mr Bediako’s lawyers also argued that Cola Holdings had no traceable assets in Ghana, raising concerns about recovering funds if the appeal ultimately succeeded.
The court rejected that argument after reviewing documents showing that the company held registered security interests in the country.
These documents included a mortgage-registration certificate from the Registrar of Companies and a memorandum of mortgage registration from the Lands Commission. According to the court, the records established Cola Holdings’ security interests over immovable and other assets in Ghana.
The judge observed that the same documents had previously been presented by Mr Bediako in his application to set aside the registration of the English judgment. The claim that Cola Holdings had no identifiable assets in Ghana was therefore inconsistent with the available record.
GH¢20,000 Costs Awarded
Following the dismissal, the court ordered Mr Bediako to pay GH¢20,000 in costs to Cola Holdings.
Justice Dabanka-Bekoe declined to impose punitive costs, recognizing that a litigant is entitled to appeal a ruling and seek temporary protection while that challenge remains before the courts.
Oxford Street Hotel Case Adds to Legal Pressure
The ruling followed a separate High Court decision on July 21, 2026, concerning the No. 1 Oxford Street Hotel in Osu, a property linked to Mr Bediako.
In that matter, the court granted Cola Holdings and its receiver police assistance to take possession of the property. It found that the company had properly registered its security interest and was entitled to enforce its rights under the Borrowers and Lenders Act, 2020 (Act 1052).
The two rulings arise from related financial and security-enforcement issues but involve separate applications. With Mr Bediako continuing to contest the foreign judgment and associated enforcement actions, the broader legal dispute remains ongoing.
Source: Omanghana
