CK Hutchison is seeking more than $1.5bn of damages from Panama over what it called the “destruction of the company’s investments” after the government kicked it out of two canal ports.
The Hong Kong-based conglomerate said on Thursday it had taken the Central American country to arbitration over a Supreme Court decision in January to annul its contract to operate a pair of terminals on the Panama Canal.
It accused Panama of “breaches of an investment protection treaty” that led to “destruction of the company’s investments” in the country.
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