Panama Ports Company (PPC) issued a statement on Monday asserting that Panama continues to undermine its reliability as a destination for foreign investment, weeks after the occupation of the Balboa and Cristóbal port terminals. The company indicated that the Panamanian state failed to submit its response within the original deadline in the international arbitration it maintains with the company before the International Court of Arbitration of the International Chamber of Commerce, whose expiration was March 13, 2026. According to PPC, the Government requested an extension arguing that it did not yet have hired lawyers or a defined plan to handle the process. PPC maintains that the dispute originated after what it qualifies as an 'unlawful takeover' of the port terminals, accompanied by raids and confiscation of facilities. The company states that these actions interrupted port operations and affected suppliers, including Panamanian businesses that provided services within the ports. The statement also notes that the State retained corporate documents, computers, and files from the company. According to PPC, these materials were removed from both the port terminals and a private document warehouse during operations carried out with the presence of security forces. The company assures it has not been able to access its own documentation, and that authorities indicated it should request the return of these materials within the same ongoing international arbitration. Finally, PPC affirmed that the State's actions have caused damages to the company and its investors, while reiterating that it reserves all its rights and legal remedies within the arbitration process.
