Hong Kong firm files arbitration against Maersk, saying it schemed with Panama over port takeover [Yahoo! Finance]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance
HONG KONG (AP) — A subsidiary of a Hong Kong-based conglomerate started arbitration proceedings against Danish logistics and port group Maersk, accusing the company of aligning with Panama in a scheme to take over its port operations on the Central American country's critical canal. The Panama P orts Company, a unit of Hong Kong's CK Hutchison Holdings, said in a statement dated Tuesday that Maersk A/S had undermined a contract over its operations of ports at either end of the Panama Canal in order to pave the way for a new operator affiliated with Maersk to take over the Balboa terminal. The company said the arbitration will be held in London, but didn't explain what remedy it was seeking. In February, Panama's government seized control of the Balboa and Cristobal ports after the country's Supreme Court declared earlier that a concession allowing the Panama Ports Company to run the ports was unconstitutional. The ruling drew backlash from China. The Panamanian government lat
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News
- CK Hutchison Files Arbitration Against Maersk As Panama Port Dispute Escalates [Yahoo! Finance]Yahoo! Finance
- Hong Kong firm files arbitration against Maersk, saying it schemed with Panama over port takeover 1 / 2 [Yahoo! Finance Canada]Yahoo! Finance Canada
- CK Hutchison's Panama unit files arbitration against Maersk over ports takeover [Yahoo! Finance Canada]Yahoo! Finance Canada
- CK Hutchison's Panama unit files arbitration against Maersk over ports takeover [Yahoo! Finance]Yahoo! Finance
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