Court dismisses Nana Kwame Bediako’s fresh bid to halt $14.9m judgment

The High Court (Commercial Division 3) in Accra has dismissed another application by Nana Kwame Bediako seeking to restrain Cola Holdings Ltd from enforcing a judgment against him.

The court, presided over by Justice Awuah Dabanka-Bekoe, dismissed the application on Monday, July 27, 2026, and awarded GH¢20,000 in costs against Nana Kwame Bediako in favour of Cola Holdings Ltd.

The application, filed by his lawyer Bobby Banson, sought an injunction pending the determination of an appeal against an earlier decision refusing to set aside the registration in Ghana of a judgment obtained by Cola Holdings in the English High Court.

The English judgment, dated January 23, 2025, was obtained against Nana Kwame Bediako personally for US$14,928,314.70, or its sterling equivalent at the date of payment.

He was also ordered to “pay the sum of $3,271.96 per day from 23rd January 2025 (or the sterling equivalent at the date of payment) being continuing interest on the sum of $14,928,314.70 set out above at the rate of 8% per annum.”

The judgment was registered in Ghana on May 20, 2025. An earlier application by Nana Kwame Bediako to set aside the registration was dismissed by the High Court (Commercial Division 3) on November 27, 2025.

The dispute stems from a loan obtained from the International Finance Corporation (IFC) by Kensington Residential Partners 1 Ltd, a company in which Nana Kwame Bediako and Azad Cola hold shares.

Nana Kwame Bediako had signed a Deed of Indemnity concerning his share of the repayment obligation. Cola Holdings Ltd guaranteed the loan and subsequently settled the debt after the IFC called on it to honour its obligations.

The IFC later assigned its interest in the loan to Cola Holdings Ltd. The company subsequently sought to recover Nana Kwame Bediako’s share of the repayment, but its efforts were unsuccessful.

Cola Holdings Ltd then commenced proceedings in the High Court in London and obtained judgment against Nana Kwame Bediako. The judgment was subsequently registered in Ghana.

The latest ruling means Nana Kwame Bediako’s attempt to halt enforcement of the registered English judgment pending his appeal has failed.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:  

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.