"Panama Lawyers Seek to Revoke HK Firm's Canal Concession" (59 characters)

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Title Panama Lawyers Seek to Revoke HK Firm's Canal Concession (59 characters)

Panama Lawyers Take Legal Action Against Hong Kong-Based Company Operating Panama Canal Ports

PANAMA CITY — In a move that highlights ongoing tensions between the United States, China, and Panama, two Panamanian lawyers have filed a complaint with the Supreme Court seeking to cancel the concession of a Hong Kong-based company for operating two ports on the Panama Canal.

The complaint targets CK Hutchison Holdings, owned by billionaire Li Ka-shing, which has managed two of the canal's five ports since 1997 through a concession from the Panamanian government. Norman Castro and Julio Macias, the lawyers behind the suit, argue that the contract violates various articles of Panama's Constitution.

The complaint also accuses CK Hutchison subsidiary Panama Ports Co. of failing to pay taxes and benefits due, allegedly in violation of Panamanian law. The company currently operates the ports of Cristobal on the Atlantic side and Balboa on the Pacific side of the canal.

The case follows a series of high-profile developments, including United States President Donald Trump's threat to seize control of the Panama Canal, which was built by the US and transferred to Panama in 1999. The controversy surrounding the canal's ownership has subsided somewhat following Secretary of State Marco Rubio's recent visit to Panama, during which Panamanian President Jose Raul Mulino announced that his country would not renew participation in China's Belt and Road Initiative.

In response to Trump's comments, Panama also launched an audit into CK Hutchison Holdings' activities. The company is a major conglomerate with interests spanning finance, retail, infrastructure, telecommunications, and logistics.

Keywords Panama Canal, CK Hutchison Holdings, Hong Kong, Panama Ports Co., Cristobal, Balboa, Marco Rubio, Belt and Road Initiative

Edward Lance Arellano Lorilla

CEO / Co-Founder

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