CK Hutchison seeks US$1.5 billion from Panama in treaty dispute

CK Hutchison has launched international arbitration proceedings against Panama, seeking more than US$1. 5 billion in damages. The Hong Kong-based conglomerate claims that Panama breached an investment protection treaty. According to Reuters, the company said government measures taken over the past two years had destroyed its investments in the country. The dispute centres on the concession contract for the Balboa and Cristóbal ports and the subsequent takeover of the terminals.