China has called the Panama court's decision to annul CK Hutchison’s contracts to operate a pair of Panama Canal ports as "absurd, shameful and pathetic" and vowed that it would defend Chinese interests.

Panama's Supreme Court annulled last week key 'contracts' that Panama Ports Company (a subsidiary of CK Hutchison) has held to operate container terminals since the 1990s. This decision clouds the proposed sale of $23 billion worth ports to a consortium headed by BlackRock & Mediterranean Shipping Company.

The?statement posted on social media by China's Hong Kong & Macau Affairs Office stated that the ruling "ignored?the facts", breached trust and severely damaged the?legitimate interests and rights of?enterprises located in Hong Kong. Reporting by Xiuhao chen and Ryan Woo. Editing by Louise Heavens

(source: Reuters)