Hong Kong’s CK Hutchison seeks HK$11.7b from Panama over canal ports dispute

Hong Kong-based CK Hutchison has launched international arbitration against Panama, seeking more than HK$11.7 billion (US$1.5 billion) in damages over the government’s takeover of two strategic ports at either end of the Panama Canal. Announcing the move on Thursday, the Li Ka-shing family-backed conglomerate said Panama had breached an investment-protection treaty and international law through “sovereign acts” targeting its decades-old concession to operate the Balboa and Cristobal…