CKH (1 HK): The Courts (Predictably) Annul The Panama Concessions. Now What?
It was a sure bet Panama’s highest court would annul CK Hutchison Holdings (1 HK)‘s Panama Ports Company (PPC) port contracts. Less clear are the next steps.
The Panamanian government has tapped AP Moeller - Maersk A/S (MAERSKB DC)‘s APM Terminals as the temporary administrator - or “neutral stabiliser” - via a phased handover of the ports.
PPC has already indicated it will seek a “clarification” of the ruling. And CKH can still sue the Republic of Panama in international tribunals.
Keep reading with a 7-day free trial
Subscribe to Hong Kong/China M&A/Events to keep reading this post and get 7 days of free access to the full post archives.