Rangers bids

In your article, “Rangers take-over: Bill Miller may yet win the day with ‘newco’ bid” (1 May), Scottish Premier League chief executive Neil Doncaster cites recent English precedents as evidence that the newco bid would be acceptable to Scottish football, saying: “Plymouth Argyle and Crystal Palace were newcos when they came out of administration and they emerged without any sanction at all.”

He cast doubt on the merits of Company Voluntary Arrangement (CVA) and claimed newco may be a better option for creditors. What he neglected to add was that these clubs exited administration after creditors agreed to a CVA.

If an organisation can avoid allowing creditors their right to vote on an agreement, while receiving no sanction from the body that regulates their activity, there would be no deterrent to others following suit.

This leaves creditors without legal protection.

Alan Burke CA

Cammo Gardens

Edinburgh