Ghanaian businessman and former presidential candidate Nana Kwame Bediako, popularly known as Cheddar, has returned to the UK High Court seeking to overturn a $14.9 million judgment arising from a property development dispute in Ghana, alleging that a document used to establish his liability contained an unauthorised signature.
Bediako is challenging a January 2025 ruling that ordered him to pay $14.9 million to Cola Holdings Limited, an investment company associated with the London-based Cola family, following a dispute over financing for the development of No. 1 Oxford Street, a 108-unit serviced apartment complex in Accra.
In a fresh claim filed in late October 2026, Bediako disputes the authenticity of a deed of indemnity presented during the original proceedings, arguing that the signature attributed to him on the document was neither made nor authorised by him.
His legal team maintains that he has no knowledge of how the signature came to appear on the document, which was central to establishing his financial responsibility in the transaction.
The filing further states that Bediako was in Nigeria on January 18, 2018, the date the document was reportedly signed at his office in Accra.
His lawyers have suggested that an electronic version of his signature may have been used without his knowledge or consent.
The latest proceedings seek to have the original judgment set aside, with Bediako also pursuing compensation for what he describes as losses arising from the earlier ruling.
The legal dispute stems from a business relationship between Bediako and Azad Cola, which reportedly dates back to around 2009.
The two were involved in the development of No. 1 Oxford Street, a property comprising 108 serviced apartments in Accra.
According to court filings, the Cola family secured an $18 million loan from the International Finance Corporation (IFC) to finance the development.
When the loan was called in April 2023, the Colas maintained that Bediako was responsible for covering half of the outstanding amount.
The subsequent legal proceedings resulted in the January 2025 judgment ordering Bediako to pay $14.9 million to Cola Holdings.
However, Bediako’s latest application challenges the documentation underpinning that decision, particularly the deed of indemnity said to establish his obligation to meet part of the debt.
Bediako’s legal team has also raised questions about the involvement of his former executive assistant, Reginald Sittie, who allegedly maintained professional relationships with both businessmen.
According to the court filing, Azad Cola gave Sittie a Rolex watch in the spring of 2018.
Although Bediako has not characterised the alleged gift as a bribe, his lawyers argue that it raises questions about the nature of the relationship and whether Sittie acted independently in matters involving the two businessmen.
The filing also questions whether Cola Holdings knew, or was recklessly indifferent to, the alleged irregularities surrounding the documentation used in the original court proceedings.
These claims remain allegations and will be subject to consideration in the latest proceedings.
Cola Holdings has strongly denied Bediako’s claims and indicated that it intends to defend itself against the new allegations.
Representing the company, Lawrence Cartier said the Cola family categorically rejects the claims and will submit a comprehensive defence to the UK High Court.
The company’s position sets the stage for a further legal contest over the circumstances surrounding the original judgment and the authenticity of the documents Bediako is challenging.
Separately, Cola Holdings is pursuing possession of No. 1 Oxford Street through receivership proceedings in Ghana.
The development, which reportedly opened around the beginning of the COVID-19 pandemic, has since stopped accepting reservations.
Bediako is a prominent figure in Ghana’s business and political circles. He founded Kwarleyz Group, with interests spanning real estate, construction, energy and hospitality, as well as Wonda World, a real estate company, and the philanthropic New Africa Foundation.
He also contested Ghana’s 2024 presidential election, becoming one of the youngest candidates in the race.
The latest legal challenge adds another chapter to a dispute that has drawn attention because of the financial value involved, the profile of the parties and the cross-border nature of the investment arrangements.
At the centre of the case are questions surrounding commercial guarantees, the authenticity of legal documents and the responsibilities of individuals involved in major property transactions.
The UK High Court will now consider Bediako’s allegations and the response from Cola Holdings in determining whether there are grounds to reopen or set aside the January 2025 judgment.
The outcome could have significant implications for the parties involved, particularly regarding the financial obligations arising from the No. 1 Oxford Street development.
