High Court Dismisses Nana Kwame Bediako's Bid to Halt $14.9 Million Debt Enforcement by Cola Holdings

The High Court in Accra has dismissed an application filed by businessman Nana Kwame Bediako, popularly known as "Cheddar," which sought to restrain the enforcement of a $14.9 million judgment awarded to UK-based Cola Holdings Limited. Justice Doris Awuah Dabanka-Bekoe, presiding over the Commercial Division, ruled on July 27, 2026, that the application lacked sufficient legal grounds to halt the recovery process. The court also ordered Bediako to pay GH"20,000 in costs to the defendant, marking another legal setback for the businessman in a case involving a defaulted corporate loan guarantee.

The dispute originates from a judgment registered on January 23, 2025, which required Bediako to repay Cola Holdings after a default on a loan repayment. In his application for an injunction, Bediako’s legal team argued that the debt should be treated as corporate rather than personal. Furthermore, they raised issues regarding the interest rates and the currency of the debt. However, the court rejected these arguments, clarifying that the claims did not meet the threshold required to prevent Cola Holdings from enforcing its legal rights to recover the funds, particularly as the firm holds identifiable assets in Ghana.

This ruling follows a significant development on July 21, 2026, when the court granted an order for a Receiver to take possession of the No. 1 Oxford Street Hotel in Accra. The hotel is a primary asset linked to Bediako and is now subject to seizure to satisfy the outstanding $14.9 million debt. With this latest application dismissed, the path is cleared for Cola Holdings and its partners, including Azad Cola, to proceed with the asset takeover. The case highlights the potential personal liabilities faced by business leaders when providing corporate guarantees and signals a firm stance by the Ghanaian judiciary on the enforcement of international financial judgments.