Management of the Regent University College of Science and Technology is calling for calm amongst its student following a court ruling that the school should be auctioned to debray debt of US$ 1,284,080 and GHC 2,139,789 that the University owes.
School authorities say that the matter will not interfere in any way with the academic functioning of the university, hence, wants all stakeholders to be calm.
Whilst describing reports that the university has been auctioned as incorrect, management of the school, in a statement signed by its acting Registrar, Benjamin Zogbator, announced that arrangements are in place to end the semester by the end of June this year.
The university, however, acknowledged that it had financial obligations towards Obokom Civil Engineering Works Limited in respect of one of the buildings of the Institution.
The university says that despite the court ruling, it is still in discussion with the construction company and its owner, Nana Obokomata IX, with hope of an amicable settlement.
“Certainly, we have some financial obligations towards Obokom Civil Engineering Works Limited in respect of one of the buildings of the Institution. The company and its owner, Nana Obokomata IX has secured a court order against the proper, but we are still in discussion with the company and its owner and we expect an amicable settlement soon,” part of the statement reads.