Ghanaian businessman Nana Kwame Bediako, popularly known as Cheddar, has dismissed reports claiming that his Oxford No. 1 Hotel in Osu has been taken over by a court-appointed receiver following a High Court order obtained by UK-based Cola Holdings Limited.
In a statement issued on Thursday, July 23, 2026, the management of Oxford No. 1 Hotel said the property remains under the possession and control of Kensington Residential Partners 1 Limited (KRP1 Ltd), the company that developed and manages the facility.
“Management wishes to inform the general public, staff and other stakeholders that Oxford No. 1 Hotel remains under the control and possession of its Management and Directors,” the statement said.
The clarification comes after the Commercial Division of the High Court in Accra, on July 21, 2026, granted a warrant authorising police assistance to Cola Holdings and its appointed receiver, Nii Amanor Dodoo, to take possession of the hotel over a disputed debt.
However, KRP1 Ltd, where Cheddar serves as a director, argued that the court’s order does not immediately hand over control of the hotel because the seven-day period attached to the warrant has not yet expired.
“The order, granted by the court on 21 July 2026, authorises the Police to assist Cola Holdings Ltd in taking possession, but it does not take effect until seven (7) days after the date of the order,” the company explained.
The company disclosed that it has instructed its lawyers to appeal the ruling and file applications seeking to stop Cola Holdings and the receiver from taking possession of the property until the appeal is determined.
According to KRP1 Ltd, the dispute stems from a financing facility obtained from the International Finance Corporation (IFC) to fund the construction of the hotel, which opened in December 2019.
The company alleged that Azad Cola, through Cola Holdings, later claimed he had personally settled the IFC loan and requested reimbursement, but insisted no evidence has been presented to support that claim.
KRP1 Ltd further argued that Cola Holdings is also pursuing the same amount from Cheddar personally, describing the move as an attempt at unjust enrichment.
