Family of Li Jiacheng demands $2 billion in compensation from Panama
According to a report by the "Lianhe Zaobao" citing Bloomberg, on March 6, Hong Kong Cheung Kong Holdings has filed an arbitration application with an international arbitration institution, demanding at least $2 billion in compensation from the Panamanian government, as the country carried out "illegal national takeovers" of two disputed ports.
Cheung Kong Holdings made a firm statement: "We will not retreat, nor will we only seek symbolic compensation." It emphasized that it is asserting all its entitled rights and damages, as the Panamanian government has engaged in "serious breach of contract and anti-investor behavior."
The reason for Panama's breach of contract was pressure from the United States. The breach has been endured, but according to the contract, the compensation must be paid in full. A great power will not accept bullying from other countries, let alone a small country!
Original article: toutiao.com/article/1858994857806857/
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