CK Hutchison set for hard fight to secure Panama port deal compensation: experts
Hong Kongās CK Hutchison could find it hard to secure compensation from Panamanian authorities over their decision to nullify its port operations, legal experts have said, noting that the arbitral tribunal it engaged lacks enforcement power and the issuance of damages may depend on the countryās own courts.The conglomerate, led by tycoon Li Ka-shingās family, said on Wednesday that its subsidiary, the Panama Ports Company (PPC), commenced arbitration against Panamanian authorities a day earlier.The move was in response to a judgment of the countryās top court that declared PPCās concession to operate two Panama Canal ports to be āunconstitutionalā.CK Hutchison said the decision to start arbitration was based on the concession contract and the Rules of Arbitration of the International Chamb...