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
A cervical cancer charity is calling on the public to share smeared lipstick selfies in a campaign to encourage women to have smear tests.
An independent investigation has begun into finances at taxpayer-funded Broadmoor Hospital.
While the economy has shown signs of improving, the number of UK companies issuing profit warnings has hit a six-year high, research shows.