Businessman Nana Kwame Bediako, popularly known as Cheddar, has rejected claims that he owes US$14.9 million to UK-based Cola Holdings Limited, insisting that the matter remains the subject of ongoing legal proceedings.

His response follows reports that the High Court (Commercial Division) in Accra has enforced a judgment issued by the High Court of England and Wales, ordering him to pay more than US$14.9 million, together with interest and costs, to Cola Holdings Limited.

A notice published in the Daily Graphic on Thursday, January 22, 2026, indicated that the foreign judgment was registered in Ghana on May 20, 2025, after Cola Holdings successfully applied for the English court’s decision to be recognised and enforced locally.

The original ruling was delivered on January 23, 2025, by Deputy Master Sabic KC, with variations granted in March and April 2025, making the judgment binding under Ghanaian law once registered.

Reacting to the publication, Mr Bediako dismissed the claims, stating categorically that he never contracted any loan from Cola Holdings Limited and that the company did not pay him any money.

“I wish to set the record straight on the facts leading to this judgment,” he said in a statement.

According to him, the transaction at the centre of the dispute relates to a loan contracted by Kensington Residential Partners 1 Limited (KRP 1) from the International Finance Corporation (IFC). He explained that KRP 1’s shareholders are himself and Mr Azad Cola, the owner of Cola Holdings Limited.

Mr Bediako said he was therefore shocked when Cola Holdings initiated legal action against him personally in the United Kingdom to recover a loan he insists was contracted by KRP 1, not by him as an individual.

He further alleged that lawyers he previously engaged in the UK failed to file a defence on his behalf, and that he has since instructed his Ghanaian legal team to challenge the enforcement of the judgment on grounds of fraud and 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,” he stated, adding that steps have been taken to halt enforcement while all appeal processes are pursued.

Mr Bediako also accused Cola Holdings Limited of attempting to enforce the same debt simultaneously against KRP 1 in Ghana, describing the move as an abuse of the court process.
“This is a clear case of unjust enrichment and an attempt to seek multiple recoveries of the same debt against different persons,” he said.

He further alleged that Cola Holdings failed to disclose to the UK court that related proceedings had already been initiated in Ghana against KRP 1, describing the omission as fraudulent misrepresentation.

Reaffirming his confidence in Ghana’s justice system, Mr Bediako assured the public that he would pursue all legal remedies available.

“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,” he said.

The statement was signed by Mr Bediako in his capacity as President of the Kwarleyz Group.