Omanghana
Management of No. 1 Oxford Street Hotel & Suites has rejected reports that the luxury property has been seized following a debt-related court dispute involving Cola Holdings Limited.
The hotel, operated by Kensington Residential Partners 1 Limited (KRP1 Ltd) and associated with businessman Nana Kwame Bediako, popularly known as Cheddar, remains under the control of its existing management, according to a statement issued in response to the reports.
Management acknowledged that the High Court had issued an order connected to the financial dispute and that a receiver had subsequently been appointed. It, however, maintained that the development does not amount to an immediate takeover or seizure of the property.
KRP1 explained that the court’s decision is subject to a legally recognized grace period, during which the affected party may exercise its right to challenge the ruling or seek additional relief from the court.
As part of that process, the company said it had filed an appeal against the High Court’s decision. It has also applied for a stay of execution, which seeks to suspend enforcement of the order while the appeal is being considered.
According to management, those legal filings mean that the dispute remains before the courts and that claims suggesting the hotel has already been taken over are premature.
“While a receiver has been appointed, the company has exercised its legal right to appeal and has also filed an application for a stay of execution,” management explained.
KRP1 stressed that no final enforcement action had displaced its management team or brought the hotel’s operations under the control of another party. It therefore urged the public, clients and business partners to disregard reports describing the property as having been seized.
The company also sought to reassure guests that operations at No. 1 Oxford Street Hotel & Suites were continuing while the parties pursued the matter through the appropriate legal channels.
The dispute involves Cola Holdings Limited, which obtained the High Court order in relation to an outstanding debt claim. The appointment of a receiver typically allows an independent party to protect or manage assets covered by a court order, although the scope and timing of those powers may be affected by pending applications and subsequent rulings.
KRP1’s appeal is expected to challenge aspects of the High Court decision, while its stay application will determine whether enforcement can proceed before the substantive appeal is resolved.
Until the court decides the pending applications, management insists that KRP1 remains responsible for the hotel’s day-to-day administration and that Nana Kwame Bediako’s interests in the property have not been displaced.
The company said it remains committed to complying with the law and resolving the dispute through the courts. It also appealed for responsible reporting as the case progresses, warning that inaccurate claims could create unnecessary concern among employees, guests, investors and other stakeholders.
No. 1 Oxford Street Hotel & Suites is a prominent hospitality and residential development situated in Accra’s Osu district. Its location and association with Bediako have made the legal dispute a subject of considerable public interest.
Management said it would provide further information when necessary but maintained that, at present, the hotel has not been seized and continues to operate under KRP1’s control.
Source: Omanghana
