Panama Seizes Control of Canal Ports Previously Run by Hong Kong Firm After Landmark Court Decision

In a significant development, the government of Panama has issued a decree to take control of two ports positioned at the entrances of the Panama Canal. This decision comes following a definitive ruling by the Supreme Court that deemed the operational rights held by the Hong Kong-headquartered company, CK Hutchison, as unconstitutional. The decree empowers the Panama Maritime Authority to occupy these ports citing “urgent social interest”. The occupation encompasses all movable assets located within or outside the Balboa and Cristobal terminals, which include cranes, vehicles, computer systems, and software. The issue surrounding these Panamanian ports is embedded within the…