In January,Panama’s Supreme Court ruled that the decades-long concession held by Hong Kong-based CK Hutchison Holdings for operating Balboa and Cristóbal ports,located at each end of the Panama Canal,was unconst...In January,Panama’s Supreme Court ruled that the decades-long concession held by Hong Kong-based CK Hutchison Holdings for operating Balboa and Cristóbal ports,located at each end of the Panama Canal,was unconstitutional.On February 23,the Panamanian government moved to take control of the two ports and sought to bring in Western shipping giants as replacements.This unilateral termination of a long-standing agreement has been a violation of contractual principles and a blow to Panama’s international credibility.In response,CK Hutchison initiated international arbitration,seeking compensation for economic losses.展开更多
文摘In January,Panama’s Supreme Court ruled that the decades-long concession held by Hong Kong-based CK Hutchison Holdings for operating Balboa and Cristóbal ports,located at each end of the Panama Canal,was unconstitutional.On February 23,the Panamanian government moved to take control of the two ports and sought to bring in Western shipping giants as replacements.This unilateral termination of a long-standing agreement has been a violation of contractual principles and a blow to Panama’s international credibility.In response,CK Hutchison initiated international arbitration,seeking compensation for economic losses.
