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Disregard $165 Million Judgement Debt Claims – University of Ghana Denies Media Reports

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Management of the University of Ghana has denied media reports claiming that the university has been slapped with a $165 Million by a US Court.

Several media houses including TV3 carried the story on August 4, 2021. The reports stated that the ruling by a US federal judge is in connection with a flagship development which became known as the Africa Integras Project.

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A statement from the university signed by the recently appointed Registrar, Mrs Emelia Agyei Mensah described the reports as “misrepresentations and falsehoods”.

Read the full statement below:

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The University of Ghana finds it necessary to respond to and correct a series of misrepresentations and falsehoods which have been circulating in recent days concerning the “Petition to Confirm, Recognize, and Enforce Foreign Arbitration Award” (the “New York Petition”) recently issued before the New York Courts by Ace American Insurance Company (“Chubb”). The University discourages and deplores such unfounded speculation regarding this matter.

This arises out of the unsuccessful project commonly referred to as the “Africa Integras Project” (the “Project”). Regrettably, once again the circumstances of the Project and its termination are being falsely represented.  Further, the nature of the New York Petition has similarly wrongly been described.  The University wishes to provide the following by way of expla­nation and correction. The University also refers to its press statement of 12th October, 2019, with regard to the true circumstances of the Project.

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Contrary to certain reports seen in the media, the University can categorically confirm that no court judgment has been issued against the University in relation to the Project.  The New York Petition 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.  The New York Petition presents an inaccurate and one-sided account of the Project.  Further, the Petition is ill-founded and fundamentally flawed.

It is a matter of record that, over the past three years, the University has repeatedly invited all of the entities which purport to assert claims against it in relation to the Project to:

  • openly set out and substantiate their claims;
  • mediate with the University; and/or
  • progress the claims by way of the arbitration which has already been commenced.

However, such parties have persistently refused to do so.  The New York Petition now represents an attempt to avoid setting out and substantiating a proper claim against the University, and avoid the contractually-required arbitration process, by proceeding in an inappropriate forum – the New York Courts.

The University 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.

Emelia Agyei-Mensah (Mrs)

REGISTRAR

DISTRIBUTION

General                                                                                   

cc:     Ag. Vice-Chancellor

Pro Vice-Chancellors

                                                                             Provosts

                                                                             Deans

                                                                             Heads of Unit

                                                                             Director, Public Affairs

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