The 2024 Presidential candidate of the New Force, Nana Kwame Bediako, has responded to reports surrounding the enforcement of a US$14.9 million judgment debt in Ghana, stating that the matter remains under judicial consideration and that all legal procedures are still ongoing.
In a statement dated January 23, the entrepreneur and President of the Kwarleyz Group said recent media reports had distorted the facts regarding a judgment obtained by Cola Holdings Limited in a United Kingdom court.
Mr Bediako firmly denied contracting any loan from Cola Holdings Limited or receiving funds from the company in his personal capacity. He explained that the dispute stems from a separate transaction involving Kensington Residential Partners 1 Limited (KRP 1), which secured a loan from the International Finance Corporation (IFC).
He noted that KRP 1 is jointly owned by himself and Azad Cola, the owner of Cola Holdings Limited, and said he was taken aback when Cola Holdings initiated legal action against him personally in the UK over what he described as a corporate loan obligation.
According to Mr Bediako, a judgment was entered against him after legal representatives he had engaged in the UK failed to file the necessary defence processes on his behalf.
Following the registration of the UK judgment in Ghana, he said he instructed his lawyers to oppose its enforcement, arguing that the judgment was procured through fraudulent means and that enforcing it would violate public policy.
“I instructed my lawyers in Ghana to resist the enforcement of the judgment on grounds that the judgment was obtained by fraud and that its enforcement will be against public policy,” he stated.
Although a High Court declined to overturn the registration of the foreign judgment, Mr Bediako disclosed that his legal team has since filed an appeal and taken further steps to prevent enforcement while all appeal processes are pending.
He also accused Cola Holdings Limited of misusing court procedures, alleging that the company failed to inform the UK court that it had already initiated separate legal proceedings in Ghana against KRP 1 over the same matter.
Mr Bediako argued that the omission of this information amounted to material misrepresentation, which he claims misled the UK court into delivering judgment against him personally.
Reaffirming his confidence in Ghana’s judicial system, Mr Bediako said he remains committed to upholding the rule of law and contributing to national and continental development.
“I am certain that after all the processes have been exhausted, the truth will stand, and no amount of machinations will derail my commitment to contributing my quota to the development of Ghana and Africa,” he added.
