Hong Kong conglomerate CK Hutchison said on Friday it has escalated its legal fight in Panama after the government seized its port operations, petitioning for a review of the decree behind the takeover.The company said Panama unlawfully occupied facilities, seized property and ignored consultations, prompting further national and international legal action.
Hong Kong conglomerate CK Hutchison said on Tuesday Panama authorities had threatened its employees with criminal prosecution if they defied orders to leave two strategic canal ports at the centre of a legal battle that has embroiled Beijing and Washington.CK Hutchison said Panama's decision to cancel key port contracts and grant temporary licences to Maersk and the Mediterranean Shipping (MSC)
Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday.The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions of Panama-flagged vessels in China that appears tied to a
Hong Kong conglomerate CK Hutchison said on Tuesday Panama authorities had threatened its employees with criminal prosecution if they refused to leave two strategic canal ports at the centre of a legal battle that has embroiled Beijing and Washington.CK Hutchison said Panama's decision to cancel key port contracts and grant temporary licences to Maersk and Mediterranean Shipping (MSC) was
Panama's Supreme Court has annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison, leaving the future ownership of some Panama Canal operations unclear and possibly upsetting its plans to sell some terminals.Panama Ports Company (PPC), a CK Hutchison subsidiary
Hong Kong-based conglomerate CK Hutchison's Panama unit has launched an arbitration against Maersk after the takeover of two strategic ports near the Panama Canal which are at the center of a legal battle that has embroiled Beijing and Washington.In a statement, Panama Ports Company (PPC) said Maersk broke a long-term contract by siding with the Panamanian government to help remove PPC from its
A unit of Hong Kong conglomerate CK Hutchison said on Tuesday it had widened its claims in an international arbitration case against Panama, saying damages had now risen to more than $2 billion.Panama Ports Company, which for nearly three decades operated the Balboa and Cristobal terminals near the Panama Canal
Panama Ports Company (PPC), a unit of Hong Kong conglomerate CK Hutchison 0001.HK, said on Monday that the Panamanian government failed to file its response by the March 13 deadline in an international arbitration brought by the company.PPC said the deadline was set by the International Court of Arbitration of the International Chamber of Commerce (ICC) and that Panama sought a partial extension
China's COSCO Shipping has suspended operations at Balboa port which is located at the entrance to the Panama Canal, according to local newspaper La Prensa, which published a notice to clients from the shipping and logistics conglomerate.Balboa is one of the two ports at the center of a year-long saga involving Washington, Beijing and the Panamanian government.
Hong Kong's CK Hutchison said on Wednesday its Panama Ports Company unit has started international arbitration proceedings against Panama after the country's top court annulled its licences to operate two Panama Canal ports, in a case that could take years to resolve.Panama's Supreme Court last week ruled the contracts violated Panama's constitution by giving the company exclusive privileges and
Public-private partnerships could take over two key ports near the Panama Canal if courts invalidate a contract with Hong Kong-based CK Hutchison's to operate them, Panama's President Jose Raul Mulino said on Thursday.CK Hutchison holds a 90% stake in the local Panama Ports Company, which had a 25-year concession to operate the Balboa and Cristobal ports, located at both ends of the canal
Panama's comptroller general, Anel Flores, said on Wednesday he had filed suit to the nation's Supreme Court against a contract to operate ports near the Panama Canal, held by a local firm controlled by Hong Kong-based CK Hutchison.Flores said the two suits were to declare the unconstitutionality and to nullify the contract to operate the Balboa and Cristobal ports.