The company stated that this situation raises concerns about the investment climate and the progress of the arbitration process. Additionally, the company mentioned that the government maintains a confrontational stance, including statements it considers inaccurate, and reiterated that it reserves the right to respond to all allegations within the arbitration. This point is key to the case's progress and maintains expectations about how the dispute will unfold. PPC also indicated that Panama may have claimed it lacks legal representation, which would explain the delay. PPC assured that these situations are not new but are part of a conflict that—according to the company—has lasted for over a year but has intensified in recent weeks. The process is being handled under the rules of the International Court of Arbitration of the International Chamber of Commerce, where, according to the company, the Panamanian state has not yet submitted its initial response. The company Panama Ports Company has escalated the legal battle and is now claiming over US$2 billion in an international arbitration against the Panamanian state for what it qualifies as an illegal takeover of the Balboa and Cristóbal terminals, in addition to the occupation of its properties. According to the company, this expansion of the claim is a response to several actions it considers extreme, such as the occupation of assets and the alleged confiscation of protected documents.
