http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/Rangers have filed court papers signalling their intention to go into administration.
STV can exclusively reveal the Ibrox club lodged the notice at the Court of Session in Edinburgh at lunchtime on Monday.
It is understood the papers are the first step in any formal administration process. They now have ten days in which to declare administrators have taken over the running of the Glasgow-based club.
STV understands owner Craig Whyte, director of operations Ali Russell and board member Andrew Ellis had a meeting with manager Ally McCoist on Monday to inform him of the news.
HM Revenue and Customs guidelines state: "The appointment of the administrator will take effect within ten business days of the date the notice of intention is filed."
This period allows the company to speak to creditors to see if they reach an agreement. If they enter administration the Scottish Premier League champions will automatically be docked ten points.
Rangers FC are currently awaiting the result of a £49m tax case with HM Revenue and Customs in relation to the club's use of an Employee Benefits Trust to pay players and staff. It is thought the decision to lodge court papers means the result of this tax case is likely to be known imminently.
The First Tier Tax Tribunal confirmed the decision in the case against Rangers has not been published, although it could not confirm whether or not the club had learnt of it ahead of it being released publicly.
The Court of Session confirmed to STV that papers signalling the intention to appoint administrators had been received from the club's solicitors acting on behalf of their directors.
Rangers are expected to make a statement to London-based Plus Stock Exchange about their intention to go into administration on Monday.
The club was suspended from trading shares on the stock exchange after failing to file audited accounts on time earlier this year.
Last week former chairman called for the Insolvency Service to investigate the financial arrangements at the club following Mr Whyte's takeover last May.
Mr Whyte confirmed recently that he had used four years future season ticket sales to secure a £20m loan from London-company Ticketus.