High Court Grants Police Assistance for Takeover of Nana Kwame Bediako’s No. 1 Oxford Street Hotel
A High Court in Accra has granted a police assistance order to UK-based Cola Holdings Limited and its appointed Receiver, Nii Amanor Dodoo, to facilitate the takeover of Nana Kwame Bediako’s No. 1 Oxford Street Hotel in Osu, Accra, following a debt recovery dispute.
The court’s decision comes after Cola Holdings sought to enforce its security interest over the luxury property in connection with an outstanding debt exceeding US$14.9 million. According to the company, the debt claim had already been recognised by the court, paving the way for enforcement proceedings.
Cola Holdings explained that despite the court’s recognition of its claim, it was unable to take possession of the hotel peacefully. As a result, it applied for a police assistance order to ensure the Receiver could lawfully assume control of the property.
The High Court subsequently approved the request, authorising the Ghana Police Service to provide the necessary assistance to the Receiver in taking possession of the hotel in accordance with the law.
The appointment of a Receiver is a legal process commonly used to recover assets pledged as security when a borrower defaults on financial obligations. With the court’s approval, the Receiver is expected to take control of the hotel and manage the property as part of efforts to recover the outstanding debt.
The development marks a significant step in the legal dispute involving one of Accra’s high-profile hospitality properties, with the enforcement action now set to proceed under court supervision.
