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business & economy
Also in this section: Universidad Tecnologico bombshell in bus fire case SUNTRACS flexes its muscles over construction site safety
Environmental permit denied for cement plant project
Business & Economy Briefs
Kuzniecky replaces Vásquez as Minister of Canal Affairs On April 12 President Torrijos began what will be a series of announcements about a shuffle in his administration by informing the public that Canal Affairs Minister Ricaurte Vásquez is leaving the government and being replaced by Comptroller General Dani Kuzniecky. The latter said he would resign his former post, so there would at least be a new comptroller in the shuffle.
Panameñistas sue over PYCSA contract transfer Several members of the opposition Panameñista Party have filed a lawsuit with the Supreme Court alleging that the transfer of the contract to build and operate the Panama-Colon autopista from PYCSA to Norberto Odebrecht SA is illegal, or at least was done in an illegal fashion. They argue that the contact between Máximo Haddad's insolvent PYCSA and the government was a public asset and couldn't legally be transferred to a third party without compliance with the public contracting and transparency laws. Last year a publicist for Odebrecht told The Panama News that it had bought the concession from PYCSA with government approval, but more recently Odebrecht claimed that it hadn't paid anything to PYCSA. The problem with the first scenario is that PYCSA is and was then in receivership, and anything paid to Haddad and not the receiver would have been a fraud against the creditors. Public Works Minister Benjamín Colomarco has said that the contract transfer in the form of a private deal between PYCSA and Odebrecht was done to avoid endless litigation, but it seems that the Panameñistas' suit is just the beginning of litigation. The government has for years had ample justification to declare the PYCSA contract breached and cancel it, leading anti-corruption activists to question why it not only didn't do so, but instead lent Haddad more money. Transferring the autopista contract --- just one part of the larger Corredor Norte project --- in an "off the books" fashion would at a glance be one way to shield from public view the details of a relationship between Haddad and three Panamanian administrations whose basic details suggest impropriety.
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Also in this section:
HSBC defamation suit raises wider legal
questions, business risks Universidad Tecnologico bombshell in bus fire case SUNTRACS flexes its muscles over construction site safety
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