By Daniel Bampoe
The Commercial Division of the High Court in Accra has authorised the Ghana Police Service to assist in the takeover of the prestigious No. 1 Oxford Street Hotel & Suites, a luxury hospitality facility associated with New Force leader and businessman Nana Kwame Bediako, popularly known as Cheddar, following the enforcement of a multi-million-dollar debt recovery action.
The court has granted Cola Holdings Limited and its court-appointed receiver, Nii Amanor Dodoo, the legal authority to take possession of the high-end hotel as part of efforts to recover an outstanding debt exceeding US$14.9 million, together with accrued interest.
The ruling marks the latest development in a long-running commercial dispute over financing secured for the construction of one of Accra’s most prominent luxury hotel developments.
According to the High Court, the enforcement action follows the failure of Kensington Residential Partners 1 (KRP1)—a company in which Nana Kwame Bediako serves as a director—to repay a loan facility obtained for the development of the hotel.
The court ruled that following the enforcement in Ghana of a judgment previously obtained in the United Kingdom, Cola Holdings Limited was legally entitled to realise its security interest over the property under the provisions of Ghana’s Borrowers and Lenders Act.
The judgment further empowers the appointed receiver to take immediate possession of the hotel with police assistance if necessary to ensure the peaceful execution of the court’s order.
The High Court’s decision effectively places control of the luxury property in the hands of the receiver while recovery efforts continue.
The dispute centres on financing secured by Kensington Residential Partners 1 for the construction of No. 1 Oxford Street Hotel & Suites, an upscale hospitality facility located in one of Accra’s prime commercial districts.
After KRP1 allegedly defaulted on its repayment obligations, Cola Holdings Limited pursued legal action to recover the outstanding debt.
The lender subsequently obtained a judgment in the United Kingdom ordering repayment of more than US$14.9 million, together with interest.
Following recognition and enforcement of that foreign judgment in Ghana, the Commercial Division of the High Court ruled that the lender was entitled to enforce the security attached to the loan agreement by taking possession of the hotel.
As part of the enforcement process, the court authorised the Ghana Police Service to assist the receiver in securing the property should resistance arise during the takeover.
The case has attracted significant public attention because of the involvement of Nana Kwame Bediako, one of Ghana’s most prominent entrepreneurs and founder of the New Force Movement, which emerged as a major political force ahead of the 2024 general elections with promises of economic transformation, youth empowerment and private-sector-led development.
Cheddar has consistently maintained that the debt belongs solely to Kensington Residential Partners 1 and not to him personally, stressing that he should not be personally held liable for the financial obligations of the company.
He has also indicated his intention to challenge the High Court’s latest decision through the appellate process.
Despite his stated intention to appeal, the current court order remains in force and authorises the receiver to proceed with taking possession of the hotel pending any contrary ruling by a higher court.
The legal action highlights the enforcement mechanisms available under Ghana’s Borrowers and Lenders Act, which permits lenders to realise secured assets where borrowers default on loan obligations after obtaining the necessary legal authorisation.
The law is intended to strengthen confidence in the financial and lending environment by providing creditors with legal remedies to recover outstanding debts while safeguarding the rights of borrowers through judicial oversight.
The outcome of any appeal filed by Nana Kwame Bediako or Kensington Residential Partners 1 is expected to determine the next phase of the dispute.
