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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Uganda: NSSF back to court of appeal over Alcon

Posted on 07 September 2010

From Allafrica.com: The National Social Security Fund (NSSF) has returned to the Court of Appeal, in a fresh bid to quash the award of Shs36 billion to Alcon International.
Last year, the Court of Appeal ordered that NSSF pay Alcon over Shs36 billion as compensation for having terminated its contract to build Workers House in 1998. NSSF accused Alcon of shoddy work, escalating the project’s cost and sub-contracting a third party without its knowledge……………………………………….Full Article: Source


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