CK Hutchison’s PPC files arbitration against Panama, seeks extensive damages
Background of the Dispute
Panama’s Supreme Court recently declared the concession contracts allowing Panama Ports Company, a unit of CK Hutchison Holdings, to operate the Balboa and Cristóbal ports at either end of the Panama Canal “unconstitutional.” The ruling cited legal concerns over exclusive privileges and was part of a series of state actions that PPC says damaged its business.