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.
More top news
The 24-year-old's music has notched up more than three billion plays and more than 59 million listeners since the service started in 2008.
Blustery, wet and wintry across Scotland today - the sleet and hill snow turning back to rain.
A van driver was caught on camera swerving and weaving across three lanes of a motorway during a high speed police chase.