Hong Kong-based CK Hutchison Holdings, controlled by billionaire Li Ka-shing, risks losing its rights to operate major ports at both ends of the Panama Canal after the country’s Supreme Court ruled its subsidiary’s contract unconstitutional. The decision was announced in a statement posted on the official social media account of the Panama Judiciary on Thursday local time. AdvertisementThe statement added that the decision was reached “following extensive deliberation and discussion”. CK Hutchison holds a 90 per cent stake in PPC, which had a 25-year concession to operate the Balboa and Cristobal ports that was renewed in 2021. AdvertisementIn response, PPC said on Friday that the court’s decision was “inconsistent” with the relevant legal framework, warning that it could take legal action against the decision.