The current and historical club called Rangers is fading into oblivion.
The physical assets and, arguably, the players are owned by Sevco 5088 and Sevco Scotland.
These two companies are, on the face of it, owned by Charles Green who may be fondly remembered by Sheffield Utd. fans.
There may be a new club joining Scottish football leagues but it will not be the current and historical Rangers.
Should the new 'club' try to pass itself off as the current and historical Rangers then the creditors who have been stiffed are entitled to sue for their money. This money includes around £100m for tax, Vat, Paye Nic.