Nana Kwame Bediako, President of Kwarleyz Group, has addressed recent reports concerning a US$14.9 million debt judgment obtained against him by Cola Holdings Ltd in the United Kingdom. In an official statement, Bediako clarified that he has not personally contracted any loan from Cola Holdings. The debt originated from a loan taken by Kensington Residential Partners 1 Limited (KRP 1), a company co-owned by Bediako and Mr. Azad Cola, the owner of Cola Holdings, from the International Finance Corporation (IFC).
Bediako said he was surprised to learn that Cola Holdings had initiated legal action against him personally in the UK and that his UK-based lawyers did not file a defence, leading to the judgment. Following the decision of the High Court in Ghana to refuse to set aside the registration of the foreign judgment, he has instructed his legal team to appeal the ruling and seek suspension of enforcement pending the outcome of the appeals.
The statement also noted that Cola Holdings is simultaneously seeking to enforce the same debt against KRP 1 in Ghana. Bediako described this as an attempt to obtain multiple recoveries from different parties, while alleging that Cola Holdings failed to disclose its ongoing proceedings in Ghana to the UK court, a move he termed a misrepresentation of material facts.
Bediako reaffirmed his commitment to the rule of law and the Ghanaian justice system, stating that he is confident the legal process will clarify the matter and determine liability.
Full Statement Below;
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