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CK Hutchison Starts Arbitration Against Panama Over Port Dispute

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CK Hutchison (HKG:0001) has commenced international arbitration proceedings against Panama, according to a Thursday Hong Kong bourse filing.

The company is seeking more than $1.5 billion in damages over measures that led to the takeover of its Balboa and Cristóbal port terminals.

The company said the arbitration follows failed attempts to resolve the dispute and alleges that Panama breached an investment protection treaty.

CK Hutchison's subsidiary, Panama Ports Company, will continue separate arbitration proceedings under the concession contract governing the ports.

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