Cheung Kong's subsidiary Panama Port Company: The Panamanian government did not respond to the company's initiation of international arbitration before the original response deadline set by the International Chamber of Commerce.

On March 17, according to Cheung Kong’s website, its subsidiary Panama Port Company (PPC) announced that the ongoing and recent actions by the Republic of Panama, weeks after improperly taking over the container terminals at Balboa Port and Cristóbal Port, continue to undermine its reliability as a destination for foreign investment. The announcement stated that the Panamanian government did not respond to the international arbitration initiated by Panama Port Company before the original response deadline of March 13, 2026 (Friday), set by the International Chamber of Commerce. The Panamanian government claimed to be unprepared and unable to respond in a timely manner, citing reasons such as not having hired a lawyer, being unfamiliar with the relevant disputes, and needing time to develop a plan to request a partial extension. It is understood that Panama Port Company had previously initiated international arbitration against the Panamanian government under the ICC Rules, claiming at least $2 billion in damages. (Jiemian News)