THE LIQUIDATORS of The Rangers Football Club plc are suing the company's former administrators for up to £28.9 million.
The claim has been lodged by BDO against Paul Clark and David Whitehouse of accountancy firm Duff & Phelps at Edinburgh's Court of Session.
Mr Whitehouse said he was "surprised and disappointed" by the move and said there were plans to set the record straight in court.
BDO are seeking up to £28.9 million in relation to the strategy used by Mr Clark and Mr Whitehouse in the administration process after the club plc went into financial meltdown in February, 2012.
Mr Whitehouse and Mr Clark
Four months later, the company's business and assets were sold to the Sevco consortium fronted by former Rangers chief executive Charles Green for £5.5 million.
BDO were then appointed as liquidators, and have since conducted a review of the events leading up to administration through to the sale of the assets.
In a statement, BDO said: "The joint liquidators, following extensive deliberations with their professional advisors and the liquidation committee, have taken the decision to issue a claim against the former Rangers' administrators Paul Clark and David Whitehouse, of Duff & Phelps.
"During the course of the liquidation, questions have arisen regarding the strategy previously adopted by the former administrators, which have not, to date, been adequately answered.
"In seeking clarity, the joint liquidators have been left with no other option but to pursue the matter via the Scottish Court. The joint liquidators look forward to the resolution of this matter."
BDO added: "The joint liquidators consider that the former joint administrators failed to take actions which would have reduced costs during the administration period and realised additional value from the company's assets over and above that obtained from the sale of the business and assets to Sevco."
In November, it emerged Mr Whitehouse and Mr Clark had begun legal proceedings against the Chief Constable of Police Scotland, the Procurator Fiscal and the Lord Advocate after criminal charges relating to their time at Ibrox were dropped in June, last year.
News of the action by Mr Whitehouse and Mr Clark came after a London court ruled police and prosecutors abused state power during a raid last year on the London offices of Holman Fenwick Willan, the London-based law firm which represented former Rangers administrators Duff and Phelps.
Mr Whitehouse, managing director of the Manchester office of Duff & Phelps said: "We were surprised to receive notice of proceedings today, one week before expiration of the limitation period, and we are disappointed that this has been leaked to the media.
"In essence, BDO is now alleging that as the former administrators we should have achieved a better return for creditors by selling the clubs assets on a piecemeal basis, including Ibrox and its playing squad.
"This is a strategy with which we fundamentally disagree both in terms of its deliverability and its relevance to achieving the statutory purpose of administration.
"We will be consulting with our legal advisers in order that our position is set out fully before the court. Any further comment at this stage would be inappropriate given that there are now live proceedings."
In November, 2014, BDO said it banked £24 million for creditors after settling a claim against London-based Collyer Bristow, the firm of solicitors that had acted in the 2012 takeover of Rangers.
BDO confirmed that at the time that it brought the amount potentially available to all those owed money from the collapse of the club's business to £28.9m.
Those owed money ranged from giants such as Coca-Cola to a picture framer in Bearsden.
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