Panama Canal Expansion Deal Ends Funding Impasse

Law360, New York (February 28, 2014, 1:09 PM EST) -- An international consortium of infrastructure firms and the agency that operates the Panama Canal on Thursday reached a preliminary agreement to continue work on a canal expansion project after the parties had reached an impasse earlier this month over a $1.6 billion funding gap.

The Autoridad del Canal de Panama, the government agency in charge of the canal, said talks with the Grupos Unidos por el Canal consortium ended Thursday resulting in a "conceptual agreement" that will keep construction on the Third Set of Locks project...
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