CK Hutchison Holdings has warned that it will take legal action against Maersk if the shipping company takes over the administration of the Balboa and Cristóbal ports in Panama.
The company stated: «Any action by APMT or its affiliates to assume the administration or operation of the PPC ports in Balboa or Cristóbal, in any manner or for any period, without the consent of CKHH, will cause harm to CKHH, HPH and PPC, and will result in legal action against APMT and/or its involved affiliates».
Subsequently, the President of the Republic, José Raúl Mulino, announced that APM Terminal Panama, a subsidiary of the A.P. Moller-Maersk group, would temporarily take over the operation of the ports.
In a statement, Hutchison Port Holdings Limited (HPH) informed that it had notified A.P. Moller–Maersk A/S about the possible legal consequences of assuming administration without their consent.
Meanwhile, Panama Ports Company S.A. (PPC) initiated an international arbitration against Panama, considering that this decision came after a campaign by the Panamanian state specifically targeting this company and its concession contract.
Following the ruling of the Supreme Court of Justice (CSJ), China warned that Panama would «pay a high price» for the decision, calling the sentence «absurd, shameful, and pathetic», and assured it would defend the interests of its companies abroad.
The company also stated that since the beginning of this year and in recent dates, the Panamanian state disregarded communications, consultation efforts, and requests for clarity.
