Livingston have written to the Scottish Football Association warning they may take legal action if the governing body fails to act upon Rangers' financial woes appropriately.
STV understands the First Division club have outlined they would pursue up to £1.2m in lost revenue for their relegation to the Third Division in 2009 if the SPL side are not dealt with in a similar manner.
The decision to demote Livingston, who were in administration but in the hands of prospective buyers, was made by the Scottish Football League prior to the start of the 2009/10 season.
A failed appeal to the SFL was followed up by a submission to the Scottish FA, who ruled the punishment was fair and reasonable.
The governing body’s judicial protocol was given a complete overhaul last year and insolvent clubs, as well as any appeals processes, are now handled in a different manner.
Nonetheless, Livingston believe a precedent was set in the judgement and have now stated they are monitoring how the Scottish FA are handling the Rangers situation, as uncertainty over the future of the club continues.
If prospective buyer Charles Green is unable to strike a deal with creditors to take the club forward via a CVA, it is possible the businessman will pursue a ‘newco’ route to ensure the club continues as part of a new company.
The move, which would be unprecedented in Scottish football, would require Scottish FA approval to go through if the new company wished to inherit Rangers’ membership of the body and could be subject to further sanctions.
Rangers have already been punished by both the Scottish Premier League and Scottish FA for being in administration, with the latter recently administering a 12-month registration embargo and fines reaching £160,000.
Rangers’ appeal against the Scottish FA’s sanctions, which were described as to have “struck a balance which was relevant to the mischief and proportionate to the breach” will be held on Wednesday.
The independent panel set up to consider the initial case against the club stated in their deliberations that "only match fixing in its various forms might be a more serious breach” than Rangers’ failure to pay tax contributions for employees, amongst other discrepancies.
Termination of Rangers’ membership to play football in Scotland was also considered at the time, something which was ruled to be “too severe” a punishment.
Both the Scottish FA and Livingston declined to comment on the letter.
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