Arguing that the institution was negligent in the process of intervention and sale of the bank, in Panama Balboa Bank shareholders filed a $74 million lawsuit against the Superintendence of Banks.
The legal appeal filed by the Balboa Bank shareholders and admitted by the Third Chamber of the Supreme Court of Justice, points out to the Superintendence of Banks of Panama (SBP) to cause presumptive damages because of the sale price fixing of the bank's shares.
In Panama a new constitutional ruling prevents outsourcing of tax collections to private natural and legal persons, repealing a presidential decree.
The Supreme Court (CSJ) declared as unconstitutional paragraph 3 and subsequent paragraph of Cabinet Decree 109 of May 7, 1970 that allowed the public function of tax collections to be carried out by private individuals and corporations, which was aimed at monitoring the collection of taxes.
The Center for Settlement of Investment Disputes has started arbitration proceedings in which Panama could end up paying up to $2.5 billion.
Months ago the U.S. company Transglobal Green Energy (TGGE), called on the Panamanian government to reach an agreement on the cancellation of an award for a hydroelectricity plant which was subsequently awarded to Grupo Ideal owned by Carlos Slim, however, lack of action by the authorities led the company to take further action.
Two lawsuits have been filed challenging the constitutionality of the law requiring a performance deposit bond of up to $75,000.
Lawyers representing business owners of liquor outlets have filed claims against law No. 2 of February 5, 2013 with the Supreme Court of Justice (CSJ).
Meanwhile, "a group composed of owners of bars, pubs, gardens, clubs and grilled food restaurants, from Panama Colón, Chiriquí and Veraguas, held a protest at the steps of the Supreme Court, demanding deletion of the passage of this law , which establishes bond deposits and other regulations for these businesses ".