Panama's Supreme Court has annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison, leaving the future ownership of some Panama Canal operations unclear and possibly upsetting its plans to sell some terminals. Panama Ports Company (PPC), a CK Hutchison subsidiary, has held contracts ?since the 1990s to operate container terminals at the canal's Pacific and Atlantic entrances, separate from the waterway's operations. The decision could disrupt CK Hutchison's proposed $23 billion sale of dozens of ports worldwide, including the Panamanian terminals, to a consortium led by BlackRock and Mediterranean Shipping Company (MSC). PPC said on Friday…