HMRC: Rangers liquidation best way to 'protect taxpayers'

A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company's financial affairs in recent years.

A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club.

This sale can take place either through a CVA or a liquidation.

So the sale is not being undermined, it simply takes a different route.Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox.

It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA. Rangers can make a fresh start.