CK Hutchison Suspends Panama Port Activities over ‘Unlawful’ Takeover Claim
Panama Ports Company (PPC) container terminals in Cristobal and Balboa, following a ruling by the Panama Supreme Court of Justice that declared the PPC concession unconstitutional. An Executive Decree issued by the President of Panama mandated the occupation of the terminals by the state, leading government representatives to arrive unannounced and assume control. PPC employees were instructed to comply with government directives, transfer out of PPC, and cease communications with the company, under threat of criminal prosecution, effectively giving the state full control of the facilities.
Read More