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 youngest royal will make her second public appearance later this afternoon when she is baptised in Norfolk.
Jayln Rippy died and her mother and brother were seriously injured by the fish, which can grow up to eight feet long.
European nations are collectively consuming more fish than its waters can provide, according to a new study.