The administrators of the former Rangers Football Club have been cleared of misconduct over its handling of the Scottish club.

It was alleged that joint administrators Paul Clark and David Whitehouse, partners of Duff and Phelps, had prior knowledge that the club had been purchased by former Rangers chairman Craig Whyte on the back of a promise of three years of season ticket sales.

Recordings of a conversation between Duff and Phelps partner, David Grier and Whyte, were purported to confirm that the administrators were aware of the controversial Ticketus deal.

This however was rejected by the Insolvency Practitioners Association (IPA) which found that the former joint administrators to the club did not have a case to answer in relation to the charges, as they 'complied with the relevant guidance' throughout.

An IPA statement said: 'The investigation committee, made up of independent practitioners and lay members, has, over the past 13 months, carried out a thorough investigation of the administration of Rangers Football Club and the actions of the joint administrators in agreeing to accept the appointment and has concluded that the practitioners complied with the relevant guidance and legislation.'

Duff and Phelps confirmed Grier was indeed aware of the Ticketus deal but did not know how much money Whyte intended to borrow against future season ticket sales and was unaware that the capital, initially £24.4million, would be used to pay off the club's bank debt.

Rangers was forced into administration on 14 February last year by HMRC over non-payment of tax totalling about £14m, and was subsequently liquidated in June 2012. The club reformed as new-co and was forced to play football in the third tier of Scottish football.

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