Panama lawyers are seeking to cancel the concession of Hong Kong-based company CK Hutchison Holdings for operating two ports on the Panama Canal. This comes after US President Donald Trump threatened to seize the vital waterway, claiming that China was effectively operating it. The complaint filed by the Panamanian lawyers in the Supreme Court accuses the Hong Kong subsidiary of not paying taxes and benefits due to a series of advantages that are allegedly against the law. CK Hutchison subsidiary Panama Ports Co. currently manages the ports of Cristobal on the canal's Atlantic side and Balboa on the Pacific side. This arrangement was automatically renewed in 2021 for another 25 years, raising concerns about the company's compliance with Panamanian laws and regulations. The case has sparked questions about the validity of long-term contracts awarded to foreign companies operating in strategic industries, such as infrastructure. It also highlights the importance of transparency and accountability when it comes to public resources and assets. As the situation unfolds, stakeholders will be closely monitoring any developments for signs of change.

Panama lawyers are seeking to cancel the concession of Hong Kong-based company CK Hutchison Holdings for operating two ports on the Panama Canal. This comes after US President Donald Trump threatened to seize the vital waterway, claiming that China was effectively operating it. The complaint filed by the Panamanian lawyers in the Supreme Court accuses the Hong Kong subsidiary of not paying taxes and benefits due to a series of advantages that are allegedly against the law. CK Hutchison subsidiary Panama Ports Co. currently manages the ports of Cristobal on the canal's Atlantic side and Balboa on the Pacific side. This arrangement was automatically renewed in 2021 for another 25 years, raising concerns about the company's compliance with Panamanian laws and regulations. The case has sparked questions about the validity of long-term contracts awarded to foreign companies operating in strategic industries, such as infrastructure. It also highlights the importance of transparency and accountability when it comes to public resources and assets. As the situation unfolds, stakeholders will be closely monitoring any developments for signs of change.