Panama Ports Company criticizes the Panamanian government's search of its local office as an act that disregards the rule of law and constitutes the invasion of private property.
According to foreign media reports, Panama Ports Company (PPC), a subsidiary of Hong Kong's CK Hutchison Holdings, stated on the 27th that the Panamanian government "disregards the rule of law, as demonstrated by its latest actions on the 26th, invading and seizing PPC’s assets." The statement added that the company and its investors reserve all applicable rights related to this incident.
PPC said on Friday that the company has repeatedly opposed what it calls the Panamanian government’s illegal takeover of the ports and seizure of company property, including confidential and legally protected information.
The company stated that the Panamanian government ignored its requests to protect sensitive company data, and on the 26th, without prior notice, broke into a private storage location and took away documents related to ongoing legal proceedings. This, it said, demonstrates that "the state has undermined due process during the takeover process."
The company emphasized that over the past year, and especially in the past week, the Panamanian government has shown through its actions that foreign investors cannot rely on the country’s legal or contractual frameworks.
In January, the Panamanian Supreme Court ruled that the port concession contract held by PPC was unconstitutional, and on the 23rd, the Panamanian government officially took over the two ports. CK Hutchison strongly opposed this, stating it would take all appropriate and feasible legal measures to protect the group's interests. Panamanian authorities searched PPC on Thursday.
According to foreign media citing sources familiar with the matter, the search of PPC has no connection to the government’s earlier decision to revoke CK Hutchison’s operating rights at the two Panamanian Canal ports.