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Stock impact report

Panama Supreme Court Weighs Fate of CK Hutchison's Canal Ports [Yahoo! Finance]

CK HUTCH HLD LTD UNSP/ADR (CKHUY) 
NASDAQ:AMEX Investor Relations: ckh.com.hk/en/ir
Company Research Source: Yahoo! Finance
According to a report from The Wall Street Journal, the high court is expected to make a ruling soon on the constitutionality of CK Hutchison's ownership of the Balboa and Cristóbal gateways. More from Sourcing Journal Lunar New Year to Drive Brief January Import Rebound at US Ports Port of Portland's Lone Container Terminal Gets New Life Why Trump's Venezuela Operation Is Putting the Panama Canal Back in Play A lawsuit spearheaded by Panama's comptroller general Anel Flores in July contended that Hutchison's contract extension with the Panamanian government should be voided due to financial irregularities. If the court rules the partnership unconstitutional, Hutchison would no longer operate the two ports it is preparing to sell. This would nullify the lynchpin of a wider $22.8 billion, 43-port sale between the Hong Kong-based company and a consortium consisting of Mediterranean Shipping Company (MSC) and U.S. hedge fund BlackRock that initially took place last March. Show less Read more
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