Rangers go into administration
Rangers have appointed Duff and Phelps as administrators and, as a result, have been deducted ten points by the SPL.
The ten-point penalty all but hands the title to rivals Celtic who, prior to the deduction, were four points clear at the top of the table.
Earlier on Tuesday, Rangers had been given a deadline by the Edinburgh Court of Session to appoint an administrator themselves, or face the court selecting one for them. Rangers were allowed until 3.30pm GMT to make the appointment, and did so with around 45 minutes to spare.
HMRC's legal representative David Thomson said the authority was keen to avoid the perception that the administrator was too close to the club. However, Rangers' counsel Roderick Dunlop QC said Mr Thomson had put forward an "amorphous criticism" of Duff and Phelps, which he called "a respected firm". Following legal debate HMRC accepted Duff and Phelps as administrators
On Monday, Rangers confirmed they had filed legal papers to the court, notifying an intention to declare an administrator. They are awaiting the verdict of a tax tribunal which owner Craig Whyte claims could cost them £75 million.
The tribunal is centred on the use of employee benefits trusts, which were in place before Whyte took over from Sir David Murray last May.