No.1 Oxford Street Hotel Seizure: Court Clears Cola Holdings Receiver to Take Possession
- Receiver Appointment Signals Next Phase in US$14.9 Million Debt Enforcement Battle
The legal battle surrounding the ownership and control of the iconic No.1 Oxford Street Hotel in Osu has entered a decisive phase after the High Court’s Commercial Division granted a warrant of police assistance to enable UK-based Cola Holdings Limited and its appointed Receiver, Nii Amanor Dodoo, to take possession of the property.
The order, issued by Justice Samuel Faraday Johnson, follows an application by Cola Holdings and the Receiver after they argued that attempts to obtain possession of the property peacefully had failed.
The ruling represents a significant development in a dispute centred on the enforcement of a security interest over the hotel and the recovery of a debt linked to the property.
According to court proceedings, Cola Holdings had registered its security interest over the property at Ghana’s Collateral Registry and obtained a Memorandum of No Objection to proceed with the realisation of the security.
The court held that under the Borrowers and Lenders Act, 2020 (Act 1052), Cola Holdings was entitled to seek police assistance after being unable to take possession of the secured asset voluntarily.
The decision effectively clears the way for the Receiver to assume control of the property and proceed with steps permitted under Ghana’s secured lending framework.
The application was opposed by Kensington Residential Partners 1 Limited (KRP 1) through its director, Nana Kwame Bediako.
However, the court rejected the objections, ruling that KRP 1 had not presented sufficient evidence to justify refusing Cola Holdings’ request for police assistance.
Justice Faraday Johnson consequently granted the warrant to allow Cola Holdings and the Receiver to take possession and realise the security in accordance with the law.
The court clarified that the order relates specifically to the request for police assistance and does not determine any other claims that may exist between the parties beyond the issue before it.
The dispute originates from efforts by Cola Holdings to enforce a security interest connected to the No.1 Oxford Street Hotel.
Court documents indicate that Cola Holdings appointed insolvency practitioner Nii Amanor Dodoo as Receiver under the Borrowers and Lenders Act, 2020, after taking steps to realise its security interest.
The Receiver subsequently approached the High Court after alleging that possession of the hotel could not be obtained peacefully.
The matter is linked to a judgment involving a debt exceeding US$14.9 million, plus interest and costs, which Cola Holdings sought to enforce after registration of an English High Court judgment in Ghana.
The foreign judgment was originally delivered by the High Court of England and Wales and later registered in Ghana, making it enforceable locally.
Mr Bediako has previously disputed claims that he personally owes Cola Holdings the amount in question.
In January 2026, he argued that the underlying loan was contracted by Kensington Residential Partners 1 Limited from the International Finance Corporation (IFC), rather than by him personally.
He maintained that he had not contracted a loan from Cola Holdings and questioned the basis upon which enforcement proceedings were being pursued against him.
Mr Bediako also stated that he had instructed his lawyers to challenge the enforcement process in Ghana, arguing that the matter involved issues of fraud, public policy and alleged attempts at multiple recovery of the same debt.
The court’s decision has broader implications beyond the parties involved because it reinforces the importance of Ghana’s secured transactions framework and the ability of creditors to enforce registered security interests.
For lenders and investors, the ruling provides further clarity on the practical enforcement mechanisms available under the Borrowers and Lenders Act, particularly where borrowers or asset holders resist voluntary surrender of secured assets.
The case also highlights the growing role of receivership as a tool for protecting creditor interests and preserving the value of distressed assets.
However, the dispute raises broader questions about how commercial borrowers, investors and financial institutions structure security arrangements, especially in transactions involving foreign capital and high-value assets.
With the police assistance order granted, the immediate next step is for the Receiver to take physical possession of the hotel and begin the process of managing the asset in accordance with the law.
The underlying legal disputes between the parties, however, may continue through separate proceedings.
For now, the ruling marks a major victory for Cola Holdings in its effort to enforce its security interest and recover value from one of Accra’s prominent hospitality properties.
The development will likely be closely watched by Ghana’s banking, investment and insolvency communities as a test case on the strength of creditor rights and secured lending enforcement.
