CK Hutchison's (HKG:0001) Panamanian subsidiary Panama Ports Company said government authorities carried out a search at a private storage facility that contained proprietary and material subject tied to ongoing legal cases, according to a statement Friday.

The company said the "unnotified intrusion" came after Panamanian authorities took direct control of two canal terminals operated by Panama Ports Company, assuming administrative and operational control and excluding company representatives from the Balboa and Cristobal sites.

The move followed the publication in Panama's official gazette of a Supreme Court ruling concerning the 1997 law underpinning PPC's concession, alongside an executive decree mandating state "occupation" of all movable property of the company.

CK Hutchison previously described the ruling, executive decree, and takeover as unlawful, warning that the actions pose serious risks to terminal operations, health and safety.

"The state continues to undertake illegal actions and make inaccurate statements that are highly prejudicial to PPC and its investors," Panama Ports said.