Panamanian Supreme Court Denies Request to Freeze Bank Accounts in the Colon Free Zone

IMPORTANT: The full content of this page is available to premium users only.

Wednesday, June 1, 1994
On June 1, 1994, the Panamanian Supreme Court denied a request of the Dutch Government to freeze bank accounts of businesses in the Colon Free Zone, which are the subject of investigations by Columbian authorities for suspicion of narcotics trafficking. The freeze on accounts was requested to facilitate the investigation of them for the purpose of determining which of their funds were made up of profits from narcotics trafficking. Panama has not cooperated sufficiently with foreign governments and international organizations in investigating, prosecuting and forfeiting proceeds of crime as required by the Vienna Anti-Drug Convention of 1988 and various regional agreements and model laws?[more]