Hong Kong has not adopted into domestic legislation the UNCITRAL Model Law on Cross Border Insolvency.

Unlike jurisdictions which have adopted the Model Law, e.g. the United Kingdom, an application to the Hong Kong Courts for recognition of foreign insolvency proceedings requires a balancing exercise of competing aims: assisting the foreign court conducting the main insolvency proceedings in achieving a universal distribution of assets, and ensuring that creditors seeking the Hong Kong Courts' assistance are treated fairly and equitably in enforcing their rights.

Hanjin Shipping's financial collapse has been well publicised. As a consequence of its collapse one can anticipate that there will be displaced containers worldwide with Hanjin vessels being arrested short of or at destination, being moored up or remaining outside port limits to avoid arrest or being stuck at a port short of destination with the port authority unwilling to provide port services absent payment in advance. One press report we have seen suggests that in excess of 500,000 TEUs already loaded on Hanjin vessels may be subject to delay.