Nana Kwame Bediako, the New Force’s 2024 presidential candidate, has explained the circumstances surrounding a US$14.9 million judgement being enforced in Ghana after a UK court order, emphasising that legal proceedings are still in progress.
The business tycoon and President of the Kwarleyz Group, Bediako, claimed in a public statement on January 23, 2026, that recent stories circulating in traditional and social media had exaggerated the circumstances behind the judgement, which was acquired by Cola Holdings Limited.
Bediako claims that he never obtained a loan from Cola Holdings Limited and that the business never paid him directly.
“I have not contracted any loan from Cola Holdings Ltd and Cola Holdings Ltd has not paid any money to me. The transaction leading to the said judgment is based on a loan contracted by Kensington Residential Partners 1 Limited (KRP 1) from the International Finance Corporation (IFC).”
“The shareholders of KRP 1 are myself and Mr Azad Cola, who is the owner of Cola Holdings Limited. I was therefore surprised when I was informed that Cola Holdings Limited had commenced an action against me personally in the United Kingdom (UK) to recover the loan which was contracted by KRP 1 from IFC.”
“I found out later that the lawyers I hired to engage the lawyers of Cola Holdings in the UK did not file any processes in defence to the action, “part of the statement said.
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Bediako said that after the UK judgement was registered in Ghana, he gave his Ghanaian attorneys instructions to fight its execution, claiming that it was obtained unlawfully and that doing so would be against public policy.
“I instructed my lawyers in Ghana to resist the enforcement of the judgment in Ghana on grounds that the judgment was obtained by fraud and its enforcement will be against public policy.”
“After the High Court Judge refused to set aside the registration of the foreign judgment, I have instructed my lawyers in Ghana to file an appeal against that decision.”
“I have also instructed my lawyers to file processes to ensure that the purported judgment from the UK is not enforced pending the exhaustion of all appeal processes.”
He stated that Cola Holdings had not informed the UK court that it had previously started legal action against KRP 1 in Ghana about the same debt, calling this unjust enrichment and an abuse of the legal system.
He claimed that this purported withholding of important information amounted to false misrepresentation, which tricked the UK court into finding against him.
“It is also worthy of note that Cola Holdings did not disclose to the Courts in U.K that it had also commenced proceedings to enforce that same debt against KRP 1 in Ghana. This concealment of material facts from the courts in U.K is the fraudulent misrepresentation which misled the court in UK to grant the judgment against me.”
“I wish to assure the general public that I believe in the rule of law and the justice delivery system in Ghana.”
“I am certain that after all the processes have been exhausted, truth will stand and no amounts of machinations by foreigners and their Ghanaian cohorts will derail my efforts to contributing my quota to the development of Ghana and Africa as a whole,” the statement added.
Full Statement Below:
Source: newsthemegh.com