CK Hutchison takes Panama to arbitration

Hong Kong-headquartered CK Hutchison Holdings Ltd. said its Panama Ports Company unit has launched international arbitration against Panama after the country’s top court annulled its licenses to operate two Panama Canal ports, Reuters reported. The case, expected to take years to resolve, adds uncertainty over the future ownership of the two ports, as well as CK Hutchison’s planned $23 billion sale of its port businesses.