Following President Donald Trump’s threats to seize the crucial waterway, two Panamanian lawyers filed a complaint on Monday ( Feb 3 ) to cancel the concession of a Hong Kong-based business that runs two ports on the Panama Canal.
Two of the five ports on the canal have been managed by a company of CK Hutchison Holdings, which is owned by Hong Kong businessman Li Ka-shing, a agreement granted by the Panama state since 1997.
However, one of the attorneys representing the case before the Supreme Court, Norman Castro, claimed that the deal “violates what the law says in about 10 content” of the Constitution.
” After a thorough examination of the agreement… we decided that an activity for unlawfulness was the correct means” to issue the agreement, said Julio Macias, another lawyer behind the suit.
Additionally, the Hong Kong company is accused of not paying income and benefits as a result of a number of advantages that are supposedly against the law.
The ships of Cristobal on the Atlantic side of the canal and Balboa on the Pacific side are now managed by Panama Ports Company, a subsidiary of CK Hutchison Holdings.
That design was immediately renewed in 2021 for another 25 times.
Trump threatened to retake the US-built river, which Panama received in 1999, because he claimed China was actually “operating” it.
Since Secretary of State Marco Rubio’s subsequent visit to the Central American nation, where has the country’s climate changed? Presidents of Panama announced they will not maintain their participation in China’s Belt and Road Initiative.
Following Trump’s fees, Panama even announced an inspection into the business.
CK Hutchison Holdings is one of Hong Kong’s largest companies, spanning finance, retail, system, telecoms and shipping.