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With legal basis in local Panama laws, Panama Ports Company, S.A. (PPC), as Purchaser, and Far East Leasing, S.A. (FEL), as trustee of the FEPC Leasing Trust, as Seller, for the benefit of an indirect affiliate of the Hong Kong and Shanghai Banking Corporation Limited, entered into an Agreement for the Purchase and Sale of the port cranes owned by said trust and leased by PPC, located within the Ports of Balboa and Cristobal of PPC.

The legal advice in Panama was trusted to Morgan & Morgan, on behalf of both HSBC and PPC; through partner Ramón Varela, on behalf of HSBC; and partner Enrique Jimenez and senior associate Roberto Vidal, on behalf of PPC.

For this transaction, Morgan & Morgan got the confidence of both parties HSBC and PPC, and a Chinese Wall was implemented to guarantee crystal clear professional advice avoiding any kind of conflict of interest.

Allen & Overy (Beijing), legal counsel of HSBC, in association with DLA Piper (Hong Kong), legal counsel of Hutchison Port Holdings, participated in this transaction providing advice on English law, which governs several important transaction documents.