Ghanaian businessman and New Force leader Nana Kwame Bediako, popularly known as Cheddar, has scored a major legal victory after the High Court reversed the takeover of the luxurious No.1 Oxford Street Hotel in Osu, Accra.
The latest ruling reportedly ordered Cola Holdings Limited and its appointed receiver to immediately return the keys to the hotel, effectively restoring possession of the property to Cheddar’s side.
According to reports on the ruling, the High Court determined that the manner in which the hotel was taken over did not comply with the required court procedures, prompting the court to reverse the seizure.
The dramatic decision comes weeks after the Commercial Division of the High Court had authorised police assistance for UK-based Cola Holdings Limited and its Ghanaian receiver, Nii Amanor Dodoo, to take possession of the high-profile property.
That earlier July 21 ruling followed a long-running financial dispute involving Kensington Residential Partners 1 Limited (KRP1), the company associated with Cheddar and his business partner Azad Cola. Cola Holdings had sought to enforce its security interest over the property amid a multimillion-dollar debt dispute.
The situation escalated further when Cheddar suffered another courtroom setback earlier in August after the High Court dismissed his attempt to prevent Cola Holdings from enforcing a $14.9 million judgment and awarded GH¢20,000 in costs against him.
However, the latest ruling has dramatically shifted the immediate battle over possession of the landmark Osu hotel.
The court’s decision does not necessarily bring the broader financial dispute between the parties to an end. Rather, it reverses the takeover based on the procedure used in executing possession of the property.
For Cheddar and his team, however, the decision represents a significant comeback after weeks of headlines suggesting that control of one of his most recognizable properties had slipped away.
The No.1 Oxford Street Hotel has become the centre of intense public interest as the legal battle between Cheddar and Cola Holdings continues.
With the court now ordering the keys returned, attention will turn to what legal move comes next in the multimillion-dollar dispute.
For now, Cheddar has won back possession of No.1 Oxford Street Hotel but the bigger courtroom battle appears far from over.
