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Panama Auditor Files Suit to Challenge CK Hutchison-Controlled Panama Port Contract
July 31, 2025
Panama’s comptroller general, Anel Flores, has filed a lawsuit with the Supreme Court seeking to declare ‘unconstitutionality’ and to nullify the contract held by CK Hutchison’s local subsidiary to operate the Balboa and Cristobal ports near the Panama Canal. The lawsuit follows a month-long audit that revealed “many irregularities,” though the full audit report has not been made public. CK Hutchison holds a 90% stake in a local Panama ports company, which had a 25-year concession renewed in 2021. The legal challenge adds uncertainty to a planned sale of CK Hutchison’s global port assets, including these ports, to a consortium involving MSC and BlackRock. The Supreme Court’s acceptance of the complaint is still pending.
CK Hutchison’s 5.5% 2034s are down by 0.3 points, currently trading at 103.5 and yielding 4.99%.
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