Court Throws Out Cheddar’s Application in Cola Holdings Case, Awards G

The High Court in Accra has dismissed an application by businessman Nana Kwame Bediako, also known as Cheddar, to restrain the enforcement of a $14.9 million judgment obtained by UK-based Cola Holdings Limited. The court, presided over by Justice Doris Awuah Dabanka-Bekoe, awarded costs of GH¢20,000 against Mr. Bediako on July 27, 2026.

Assets and Enforcement

In dismissing the application, the court found that Mr. Bediako’s grounds of appeal did not establish arguable points of substance sufficient to warrant injunctive relief. The judge noted that Cola Holdings holds identifiable assets within Ghana, including a mortgage and a memorandum of registration of mortgage at the Lands Commission.

The court rejected Mr. Bediako’s assertion that Cola Holdings had “no traceable assets in Ghana,” describing the claim as “demonstrably at odds with the record.” This decision follows a separate High Court ruling on July 21, 2026, which granted Cola Holdings and its Receiver police assistance to take possession of the No. 1 Oxford Street Hotel in Osu.

Judgment and Interest

The judgment against Nana Kwame Bediako stems from a Deed of Indemnity he signed in respect of his share of the repayment of a loan from the International Finance Corporation. Cola Holdings guaranteed the loan to Kensington Residential Partners 1 Ltd, a company in which Mr. Bediako and Azad Cola hold shares.

The English court ordered Bediako to pay $14,928,314.70, plus interest at eight percent per annum, amounting to $3,271.96 per day from January 23, 2025. At the Treasury exchange rate of GH¢16.15 to the dollar, the total amount, including interest and costs, is estimated at approximately GH¢258.76 million.

Costs and Consequences

The court awarded costs of GH¢20,000 against Mr. Bediako, with the judge declining to award punitive costs. The judge noted that a litigant is entitled to test a ruling by appeal and seek protection pending that appeal. The ruling follows a series of legal battles between Cola Holdings and Nana Kwame Bediako, with the latter maintaining that the dispute stems from a corporate loan rather than a personal one.

The outcome of this case may have significant implications for Mr. Bediako and his business interests. With the court’s decision to dismiss his application and award costs, it remains to be seen how Mr. Bediako will proceed in the face of this judgment and the consequences that come with it.

Source: Adom Online