Jan. 30 (UPI) -- The Supreme Court of Panama invalidated the contract of a Hong Kong subsidiary to operate ports on the Panama Canal, ruling it is unconstitutional.
In a Thursday ruling the high court said the terms of Panama Ports Company's contract that allowed it to operate the ports of Balboa and Cristobal violated the country's constitution. Panama Ports Company is a subsidiary of CK Hutchinson Holding, a company based in Hong Kong.
The court said the ruling was made after "extensive deliberation."
Panama Ports Company has been operating two of Panama's five ports since 1997. It was founded in Hong Kong and is not owned by the Chinese government.
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