Hong Kong Firm Initiates Arbitration Over Panama Canal Port Contract Dispute
CK Hutchison Holdings, a Hong Kong-based conglomerate, has initiated arbitration proceedings against Panama following a ruling by Panama's Supreme Court that declared a concession for the company to operate Panama Canal ports unconstitutional. The arbitration, filed under the International Chamber of Commerce rules, comes after Panama's assurance that the ports would continue to operate without interruption. This legal move is part of a broader $23 billion sale of CK Hutchison's global ports, which includes a consortium of buyers such as U.S. investment firm BlackRock. The court's decision is seen as aligning with the U.S. administration's efforts to limit Chinese influence over the canal. The arbitration process could take years, and its outcome may affect the sale and operation of the ports. 
