Panama's Supreme Court has annulled key port contracts ⁠held by a subsidiary of Hong Kong-based CK Hutchison, leaving the future ownership of some Panama Canal operations unclear and possibly upsetting its plans to sell some terminals.

Panama's Supreme Court has annulled key port contracts ⁠held by a subsidiary of Hong Kong-based CK Hutchison, leaving the future ownership of some Panama Canal operations unclear and possibly upsetting its plans to sell some terminals.

The ruling delivers a victory to President Trump, who has said he wants the U.S. to control the canal, and a blow to the longtime ports operator, CK Hutchison.

The lawsuit to cancel the contracts was brought before the Panamanian high court last year on allegations that it was based on unconstitutional laws and that the Hong Kong business was not paying taxes.

President Trump has said he wants American control of the canal, putting the longtime ports operator, CK Hutchison, in the cross-hairs of the U.S.-China trade conflict.

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.

The lawsuit to cancel the contracts was brought before the Panamanian high court last year on allegations that it was based on unconstitutional laws and that the Hong Kong business was not paying taxes.

The lawsuit to cancel the contracts was brought before the Panamanian high court last year on allegations that it was based on unconstitutional laws and that the Hong Kong business was not paying taxes.

Panama's Supreme Court struck down a Hong Kong company's port operations near Panama Canal amid constitutional concerns. U.S. Secretary of State Rubio calls the decision encouraging.

Panama's president moved to assure the public on Friday that critical ports at both ends of the Panama Canal will continue to operate without interruption — a day after the country’s Supreme Court ruled that the concession held by a subsidiary of Hong Kong’s CK Hutchison Holdings was unconstitutional. The court's decision late Thursday advances a U.S. aim to block any influence by China over the strategic waterway and immediately drew a sharp rebuke from Beijing. President José Raúl Mulino said that until the court's ruling is executed — a period of time he did not specify — Panama's Maritime Authority would work with Panama Ports Company, the CK Hutchison subsidiary, to ensure continuing operations at the port.

China vows to protect its companies after Panama's court annulled CK Hutchison's port concession at the Panama Canal.

PANAMA CITY, Jan 30 : The Supreme Court of Panama said a contract held by a Hong Kong company to operate ports at the Panama Canal failed to “serve the public interest and social welfare,” in its decision on Thursday voiding the contracts. While the court announced the decision on Thursday, it had not released t