Nana Kwame Bediako, popularly known as Cheddar, a Ghanaian businessman and political figure, is challenging a US$14.9 million judgment entered against him by a London court, claiming that a document central to the case was forged.
Cheddar has petitioned the High Court in London to overturn a January 2025 ruling in favour of Cola Holdings, a property and hotel company linked to his business partner, Azad Cola.
According to The Times report on November 8, 2026, Nana Kwame Bediako disputes the authenticity of a deed of indemnity allegedly signed by him on January 18, 2018.
He argued that the document was used to establish his responsibility for repaying part of a loan secured for a property development project in Accra.
In his legal challenge, Nana Kwame Bediako maintains that he did not sign the document, arguing that he was in Nigeria at the time it was supposedly executed.
He has also suggested that an electronic copy of his signature may have been used without his knowledge or authorisation.
The deed carries a witness signature attributed to his executive assistant at the time, adding another dimension to the dispute over its authenticity.
Meanwhile, Cola Holdings maintains that the agreement legally binds Bediako to repay his share of the loan. The London-based company, which belongs to the Cola family and owns the St Regis hotel in Mayfair, formerly known as the Westbury, has had business dealings with Bediako through Azad Cola since around 2009.
The two businessmen are equal shareholders in Kensington Residential Partners 1 Ltd (KRP 1), the company responsible for developing No. 1 Oxford Street, a 108-unit serviced apartment complex in Osu, Accra.
The project was partly financed through a US$18 million loan arranged by the Cola family through the International Finance Corporation (IFC), the private-sector lending arm of the World Bank.
Reports suggest that following the property’s opening in December 2019, the business reportedly struggled to generate sufficient revenue to service the debt, particularly after the outbreak of the COVID-19 pandemic. The IFC subsequently demanded repayment in April 2023.
Cola Holdings says it had guaranteed the loan, settled the outstanding debt and acquired the IFC’s rights. It is therefore seeking to recover Bediako’s portion of the liability under the disputed deed of indemnity.
However, the dispute culminated in a January 23, 2025 judgment by the English court, which ordered Bediako to pay US$14,928,314.70, together with annual interest of eight per cent.
Nana Kwame Bediako has consistently denied owing the company any money. In a statement issued in January, he insisted: “I have not contracted any loan from Cola Holdings Ltd, and Cola Holdings Ltd has not paid any money to me.”
He also blamed the judgment on the failure of his former UK legal representatives to properly defend the case, alleging that they “did not file any processes in defence to the action”.
Also, the disagreement has also spilled into Ghana’s courts, where Nana Kwame Bediako has challenged Cola Holdings’ decision to pursue both him and KRP 1 over the same debt.
On August 21, 2026, Justice John-Mark Nuku Alifo overturned the takeover, ruling that the process had violated Court of Appeal rules.
Justice John-Mark Nuku Alifo consequently ordered that the property be returned to KRP 1.
However, both the receiver and Cola Holdings have since challenged the decision.
Nana Kwame Bediako’s latest application in London now places the authenticity of the 2018 deed at the centre of the legal battle, as he seeks to have the multimillion-dollar judgment overturned.
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