Panama Court Annuls CK Hutchison Port Contracts, Jeopardizing $23 Billion Sale

• Panama's Supreme Court annulled key port concession contracts held by CK Hutchison subsidiary, Panama Ports Company (PPC).
• The ruling puts CK Hutchison's proposed $23 billion global port sale, including Panamanian terminals, to a BlackRock-led consortium at risk.
• PPC, which invested $1.8 billion, called the ruling inconsistent and threatened legal action, citing impact on thousands of Panamanian families.
• China's foreign ministry vowed to protect Chinese enterprises' interests; CK Hutchison shares fell 4.6% after the announcement.
• The decision is seen as a win for the US in its rivalry with China over global trade routes, with Trump previously supporting US ownership of the terminals.

Why It Matters: Panama's Supreme Court annulled CK Hutchison's port contracts, threatening a $23 billion sale and sparking international reactions.