Ghanaian businessman Nana Kwame Bediako, popularly known as Cheddar, has rejected reports that his Oxford No. 1 Hotel at Osu in Accra has been handed over to a receiver following a court order secured by UK-based Cola Holdings Limited.
In a statement released 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 statement follows a ruling by the Commercial Division of the High Court in Accra on July 21, 2026, which granted a warrant of 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, insists the order does not immediately transfer control of the hotel, arguing that the seven-day period attached to the warrant has not 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 statement said.
The company stated that it has instructed its lawyers to appeal the decision and file applications seeking to prevent Cola Holdings and the Receiver from taking possession until the appeal is determined.
According to KRP1 Ltd, the dispute stems from a facility obtained from the International Finance Corporation (IFC) to support the development of the hotel, which opened in December 2019.
The company claims Azad Cola, through Cola Holdings, later informed KRP1 Ltd that he had personally repaid the IFC loan and demanded reimbursement, but alleges that no evidence of the repayment has been provided.
KRP1 Ltd further argued that Cola Holdings is separately pursuing recovery of the same amount from Cheddar personally, describing the move as an attempt at unjust enrichment.
