A dispute over control of ports at the ends of the Panama Canal has taken a new turn. CK Hutchison Holdings, a Hong Kong conglomerate, has initiated international arbitration against Panama and is claiming over $1.5 billion in damages. The company accuses the Panamanian government of violating an agreement that protected its investments.

CK Hutchison had operated the terminals of Balboa and Cristóbal for nearly three decades. The company claims that Panama's actions destroyed its investments in the country. Further details on the dispute and the arbitration process are available from the source.

The company notified Panama of the dispute in February and attempted to resolve it without success before deciding to initiate formal arbitration.