Restructuring & Insolvency analysis: Applying established principles, the court convened a single meeting of creditors to consider a scheme of arrangement proposed by the administrators of VTB Capital plc, an English subsidiary of the Russian bank VTB Bank. In doing so, the court considered whether it had jurisdiction to approve a scheme that contractually alters the effect of the Insolvency Rules while seeking to apply them. Additionally, the court considered whether the impact of the administrators' proposal to fully pay the first £50,000 of each creditor's claim would fracture the proposed single class. Written by Aziz Abdul, legal director at Addleshaw Goddard LLP.