If this rumour about forming a new club is true, under the ownership of the same people, then I hope the SPL reject any plans to let them in at the same level. That would be a blatant cheat.
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Whyte, who I believe has previous for this type of thing, seems to have come in with express intention of running up as much debt as possible by not paying anything, salting away money from player and ticket sales and now one of his pals is the receiver he'll phoenix the company and hope the other Scottish clubs accept the new Rangers into the league while the creditors for the old company (HMRC and the ticketing company mostly) can whistle for the cash.
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Wouldn't that leave Ibrox in the hands of the creditors?