The 2024 presidential candidate of the New Force, Nana Kwame Bediako, has publicly addressed reports surrounding a US$14.9 million judgment debt currently being enforced in Ghana following a ruling by a court in the United Kingdom.
In a statement issued on January 23, the businessman insisted that the matter remains before the courts and that all legal processes are still ongoing.
Mr Bediako, who is also President of the Kwarleyz Group, said media reports had misrepresented the circumstances surrounding the judgment obtained by Cola Holdings Limited. He firmly denied contracting any loan from the company or receiving any funds personally.
Nana Kwame Bediako Denies Loan From Cola Holdings Limited
According to Nana Kwame Bediako, the transaction at the centre of the dispute involves a loan contracted by Kensington Residential Partners 1 Limited (KRP 1) from the International Finance Corporation (IFC), not from Cola Holdings Limited. He explained that KRP 1 is jointly owned by himself and Azad Cola, the owner of Cola Holdings, making the legal action against him personally both surprising and unjustified.
He further disclosed that a default judgment was entered against him in the UK after lawyers he engaged failed to file a defence on his behalf, a situation he says he only later became aware of.
US$14.9 Million Judgment Debt Enforcement Challenged in Ghana
Following the registration of the UK judgment in Ghana, Nana Kwame Bediako said he instructed his lawyers to challenge its enforcement, arguing that it was fraudulently obtained and that enforcing it would be against public policy. Although a High Court declined to set aside the registration, he confirmed that an appeal has since been filed to halt enforcement pending the outcome of all legal processes.
Mr Bediako also accused Cola Holdings Limited of abusing the court process by failing to disclose to the UK court that separate proceedings over the same debt were already ongoing in Ghana. He argued that this alleged concealment misled the court and amounted to fraudulent misrepresentation.
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