The legal dispute surrounding No. 1 Oxford Street Hotel in Osu, Accra, has taken another turn after the High Court reportedly reversed the takeover of the property by a receiver.
The latest development follows an earlier court order that allowed Cola Holdings Limited and its appointed receiver, Nii Amanor Dodoo, to take possession of the hotel with police assistance. The order was issued on July 21, 2026, after Cola Holdings argued that it was entitled to enforce its security interest over the property.
However, the latest ruling, reported by GHOne TV, says the takeover was carried out in breach of court rules. The court has consequently ordered the receiver to return the keys to the hotel immediately.
The hotel is linked to businessman and politician Nana Kwame Bediako, popularly known as Cheddar, and his business partner Azad Cola through Kensington Residential Partners 1 Limited (KRP1).
The dispute is connected to a financial disagreement involving a loan originally obtained from the International Finance Corporation (IFC). Cola Holdings maintains that it settled the outstanding obligation and subsequently sought to recover the money, while Bediako and the hotel's management have disputed aspects of the claim.
The dispute has already resulted in proceedings in both Ghana and the United Kingdom. In January 2025, an English High Court judgment ordered Bediako to pay Cola Holdings more than US$14.9 million, plus interest and costs. The judgment was subsequently registered in Ghana.
The hotel takeover became another major stage in the dispute when the Ghanaian High Court granted Cola Holdings and its receiver police assistance to obtain possession of the property.
At the time, hotel management challenged the takeover and maintained that the property remained under its control. Management also indicated that it intended to challenge the court's decision through the appropriate legal processes.
The latest ruling therefore represents a significant development for Bediako and the hotel management. The order requiring the receiver to return the keys means the immediate possession of the property has been reversed.
The case, however, is not necessarily over. The underlying dispute over the judgment, the financial obligations and the rights of the parties remains subject to ongoing legal proceedings.
The High Court's latest decision has temporarily reversed the takeover of Cheddar's No. 1 Oxford Street Hotel, with the receiver ordered to return the keys after the court found the takeover to have breached court rules. The wider US$14.9 million dispute between the parties remains before the courts.