The University of Ghana will vigorously defend its position and rights in relation to the "Africa Integras" Project and contest the New York Petition before all appropriate forums, including arbitration in the New York courts.

A statement signed by Mrs Emelia Agyei-Mensah, the Registrar of the University of Ghana, copied to the Ghana News Agency, said the University was confident that it would prevail and the New York Petition would be dismissed.

It said: "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, Recognise, and Enforce Foreign Arbitration Award’ (the “New York Petition") recently issued before the New York Courts by Ace American Insurance Company (“Chubb”)."

It said the alleged misrepresentations arose out of the unsuccessful project commonly referred to as the "Africa Integras Project" (the Project) and regrettably, the circumstances of the Project and its termination were being falsely represented.

The statement said: "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."

It said the New York Petition did 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".

It said such courts would allow the University full opportunity to respond to and contest the contents of the Petition.

The statement said the New York Petition presented an “inaccurate and one-sided” account of the Project; adding that the Petition was “ill-founded and fundamentally flawed.”

It said it was a matter of record that, over the past three years, the University had repeatedly invited all of the entities, which purported to assert claims against it in relation to the Project.

"However, such parties have persistently refused to do so," the statement added.

"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," it said.