CK Hutchison Unit Seeks $2 Billion in Panama Ports Dispute

Panama Ports Company, a unit of Hong Kong-based conglomerate CK Hutchison Holdings Ltd., filed international arbitration against Panama seeking at least $2 billion in damages over the Central American nation’s “illegal state takeover” of the Balboa and Cristobal ports.

The port operator has submitted the claim under International Chamber of Commerce rules, saying authorities have misstated the amount in public comments, according to a company statement on Friday.