Panama Ports Company, SA (PPC) reacted this Friday to the raids carried out on its premises on Thursday afternoon and evening, asserting that the State executed “an intrusion without prior notification” in a private facility where proprietary documentation and material subject to legal privilege was stored. PPC claims that the Republic of Panama acted in disregard of the rule of law and that, over the past year and particularly the last week, it has become evident that foreign investors cannot trust the Panamanian legal and contractual framework. The company stated that it had previously requested the establishment of “clear coordination mechanisms” for the access, custody, and protection of its proprietary and privileged information, including information unrelated to port operations. PPC and its investors have also categorically expressed their objection to the “illegal takeover of the ports,” as well as the occupation of its assets, including proprietary and legally protected information.
