Panama's comptroller office to sue over renewal of CK Hutchison contract

 Hong Kong conglomerate CK Hutchison Holdings deprived Panama of more than US$1.3 billion through a decades-old ports concession that was “negotiated against the Republic”, Panama’s comptroller general said Monday, citing the results of a sweeping financial audit.

Presenting the findings at a press conference in Panama City, Anel Flores said the contract signed in 1997 with Hutchison’s Panama Ports Company (PPC) ran counter to national interests, and accused former officials of favouring private interests over the state.

“Those Panamanians negotiated for themselves, not for the Republic of Panama,” Flores said. He called the concession “abusive” and said the amounts paid to the state were little more than “a tip”.

https://www.scmp.com/news/hong-kong/politics/article/3305584/hong-kongs-ck-hutchison-did-not-uphold-panama-canal-ports-contract-panama-audit