The University of Ghana has been handed a 165-million-dollar judgement debt by a court in New York, after cancelling an Africa Integras LLC Contract in 2018.
The contract, backed by the U.S government and insured by Chubb Limited, facilitated the construction of a 1000 bed hostel in the university’s campus.
The contract was, however, cancelled by the institution because they could not procure a contractually required letter of credit, leading Chubb Limited to file a petition against the institution.
WADR's Atiewin Mbillah-Lawson has more details in this report from Accra.
