Hong Kong-based CK Hutchison commenced arbitration proceedings against Panama on Thursday, seeking damages of more than $1.5 billion for breaches of treaty obligations and international law, according to a statement on the website of the company.

Hong Kong conglomerate launches new arbitration pursuing an investor-state dispute after the local government forcibly took control of two canal terminals

CK Hutchison said on Thursday (Aug 20) it had launched international arbitration proceedings against Panama and was seeking damages of more than US$1.5 billion for the…