DISMISSAL OF NEW YORK PETITION AGAINST THE UNIVERSITY OF GHANA
On August 15, 2022, the United States District Court of the Southern District of New York dismissed a petition filed by Ace American Insurance Company (also known as Chubb) against University of Ghana, seeking to enforce a disputed expert determination in the sum of US$165m. The expert determination dated back to 2018, when it was obtained by an entity named CPA Integras GH Investor Limited (“CPA Ghana”). Ace American Insurance Company claimed to have received rights in relation to the determination from CPA Ghana by way of an assignment. This followed CPA Ghana’s termination of the unsuccessful project, commonly referred to as the “Africa Integras Project”, for the construction and operation of a number of lecture halls, a hostel and other facilities at the main campus of the University.
The University welcomes the decision of the United States District Court of the Southern District of New York. The University is now hopeful that the matters and proceedings which remain outstanding in relation to the “Africa Integras Project” can be resolved equitably and finally between all concerned parties.
The parties are currently in negotiations aimed at achieving amicable settlement.
The University is committed to ensuring that it obtains the best outcome that serves the public interest and the interest of the University.
Registrar
