If the newco is admitted straight in it makes a mockery of the whole system. Lets all just not pay the tax man, the papershop, the shredding company, the police, etc etc the list goes on, then start up again as a newco and come straight back in. we are already a laughing stock why make it any worse? if they want to live on then start at the bottom, do the decent thing. Rangers and their fans have shown no remorse " it wasnae us, it was bigger boys that did it and ran away" and i think that is one of the worst parts. If someone from the corpse that is now Rangers actually came out and said " you know what, we fecked up, we made a complete mess of it, sorry" and swallowed what is coming to them and took their punishment then they may come out of this with slightly more goodwill and dignity.
apologies for the slight rant but companies that do this to creditors p1ss me off, they never give a damn about the people their actions effect.