HONG KONG, Aug. 20 (Xinhua) -- CK Hutchison Holdings Limited announced on Thursday that it has commenced international arbitration proceedings against the Republic of Panama for breaching an investment protection treaty and destroying its investments in the country, seeking damages of more than 1.5 billion U.S. dollars.
According to CK Hutchison, Panama suddenly launched a "state attack campaign" against its investments in early 2025, including launching investigations without due process, reversing a 30-year legal position protecting the port concession, challenging the constitutionality of its own contract law, and attempting to replace CK Hutchison subsidiary Panama Ports Company, S.A. (PPC).
CK Hutchison said in a press release that it notified Panama of a treaty dispute in early 2026, following a year-long "state attack campaign" on the company's assets, and sought to resolve the dispute to no avail.
CK Hutchison stated that Panama escalated its actions on Feb. 23, 2026, by forcefully taking over the Balboa and Cristobal terminals controlled by PPC, taking over property, equipment, technology, employees, and protected materials, causing substantial damage to CK Hutchison.
Despite subsequent treaty notices issued by CK Hutchison, Panama has made no effort to resolve the dispute, continuing its campaign of attacks and disinformation. ■
