The management of Oxford No. 1 Hotel has assured the public that the hotel remains open for business despite a High Court order granting a receiver appointed by Cola Holdings Ltd a warrant of police assistance to take possession of the property.

In a press release dated July 23, 2026, titled "Oxford No. 1 Street Remains in the Possession and Control of Kensington Residential Partners 1 Limited — Not a Receiver," management said: "Oxford No. 1 Hotel remains open for business."

The assurance came as management pushed back against press reports suggesting that possession of the hotel had already been handed over to the receiver, insisting that the property remains under the control of Kensington Residential Partners 1 Limited (KRP1 Ltd).

"Management wishes to inform the general public, staff and other stakeholders that Oxford No. 1 Hotel remains under the control and possession of its Management and Directors," the statement said.

Background to the dispute

The statement follows a ruling by the Commercial Division of the High Court in Accra which on July 21, 2026 granted a warrant of police assistance to UK-based Cola Holdings Limited and its appointed receiver, Nii Amanor Dodoo, to take possession of the hotel in Osu, Accra.

According to the statement, KRP1 Ltd "is a limited liability company owned in equal shares by its only two Directors, Nana Kwame Bediako and Azad Cola”.

Oxford No. 1 on Oxford Street was developed and is managed by KRP1 Ltd which, the statement said, "supplemented shareholder capital with a facility from the International Finance Corporation (IFC)" to fund the development. The hotel opened in December 2019, but "the impact of the Covid-19 pandemic from 2020 prevented it from trading at a level sufficient to service the IFC facility”.

The statement further read that while management was engaging the IFC to restructure the facility, Azad Cola, through his company, Cola Holdings Ltd, "wrote to KRP1 stating that he had personally repaid the loan in full to IFC, and demanded that KRP1 reimburse Cola Holdings for that amount”.

The hotel management also said Mr Cola, as a director of KRP1, "was under a fiduciary obligation to inform the company and seek its approval" before entering into such a transaction, adding that "to date, neither Azad Cola nor Cola Holdings Ltd has produced any evidence that the IFC loan was in fact repaid”.

Cola Holdings Ltd subsequently applied for, and obtained an order appointing a receiver to take possession of the hotel. 

The management noted that the order, though granted on July 21, 2026, "does not take effect until seven (7) days after the date of the order," a period it stressed "has not yet expired”.

KRP1 Ltd added it had "instructed Counsel to appeal the decision and to file the applications necessary to restrain Cola Holdings Ltd and the Receiver from taking possession pending determination of the appeal”.

The statement also noted that two previous applications brought by Cola Holdings Ltd on the matter were dismissed by the High Court, a decision now under appeal. 

It further stated that Cola Holdings Ltd was separately seeking to recover the same disputed sum from Nana Kwame Bediako personally, in parallel proceedings, meaning it was "pursuing recovery of the same amount from both KRP1 Ltd and Mr Bediako individually”.

The management emphasised that it did not believe the courts of Ghana would permit "such unjust enrichment”.

The public is hereby advised by the management to "disregard the false impression created by the recent press coverage, and to await the outcome of the appeal and the related applications now being filed”.