University of Ghana has denied reports that a US court has slapped it with a $165m judgment debt for wrongly terminating the Africa Integras project.
The University says that no court judgment has been issued against it in relation to the Project.
In a statement signed by the Registrar, Emelia Agyei-Mensah, the renowned popular university explained that the petition against it at the New York Court does not in any way comprise a judgment.
“Rather, the New York petition simply represents an initial step directed at commencing proceedings before the New York courts. Such courts will allow the University full opportunity to respond to and contest the contents of the Petition,†part of the statement reads.
The University says that it will vigorously defend its position and rights in relation to the Project and contest the New York Petition before all appropriate forums, including arbitration and the New York Courts.
“The University is confident that it will prevail, and that the New York petition will be dismissed,†the statement adds.
The full statement is as below.
The insurer of the project, Chubb Ltd, has asked a New York federal judge to confirm the $165 million arbitration award against the university.
Chubb Ltd claims in the petition that the amount was awarded because the public university defaulted on a flagship development partnership backed by the U.S. government.
According to a petition filed in the Southern District of New York, W.P Carey investment trust won the award in 2018 after the University of Ghana wrongfully terminated an agreement to construct and maintain four new facilities and a dormitory on its campus.