Hong Kong conglomerate CK Hutchison said on Friday it has escalated its legal fight in Panama after the government seized its port operations, petitioning for a review of the decree behind the takeover.
The company said Panama unlawfully occupied facilities, seized property and ignored consultations, prompting further national and international legal action.
CK Hutchison's Panama Ports Company (PPC), which manages two terminals near the globally strategic Panama Canal, filed an administrative petition seeking reconsideration of Panama's executive action that led to the occupation of its facilities and confiscation of its property, CK Hutchison said.
Panamanian authorities searched the local ports unit of CK Hutchison a week ago, esclating the rift over the control of the two ports.
Panama's government in January annulled the deals that gave the company control of the two canal ports following a court ruling deeming the contracts unconstitutional.
The government said last week The Balboa and Cristobal ports at the centre of the dispute would be operated temporarily by Maersk and MSC.
CK Hutchison had agreed last year to a $23 billion sale of dozens of ports worldwide, including the Panamanian terminals, to a consortium led by BlackRock and Mediterranean Shipping Company.
The deal has been criticised by Beijing but welcomed by U.S. President Donald Trump, who had declared he wanted to "reclaim" the Panama Canal to reduce Chinese influence over the canal's key assets.- Reuters
