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 former soldier who allegedly tried to travel to Syria three times to join ISIS has been found guilty of firearm offences.
A seven-year-old boy who applied to become the manager of a Scottish Premiership club has sadly been told he has missed out on the top job.
A man who owns and works in an antique store was shocked to find out he wasn't the only person in the building late at night.