Rangers owner Charles Green has insisted that the club will not co-operate with the Scottish Premier League hearing regarding the club's alleged undisclosed payments to players.
The SPL have appointed a commission to investigate the Glaswegian club over the incident which is related to the previous regime at the club under former chairman David Murray.
The commission was appointed following an initial assessment of Employee Benefit Trust transactions to Rangers players from 2000 to 2011, which could breach SPL rules over declaring payments in contracts.
However, Green has refused to attend or recognise the inquiry, and has instead launched a scathing attack on the SPL, accusing them of hypocrisy and questioned the independence of the commission.
"The club cannot continue to participate in an SPL process that we believe is fundamentally misconceived", the former Sheffield United chief executive said in a club statement.
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"The club ceased to be subject to the SPL's rules when it was ejected from its league," he continued.
“Our lawyers have made that point repeatedly to the SPL in correspondence and yet our requests for an explanation from the SPL have been completely ignored. The SPL's silence on these issues is deafening.
"And let's be very clear about what this commission is. Although the SPL goes to great lengths to emphasise the independence of its commission, the commission is not independent of the SPL.
”Green questioned the pursuit of the inquiry, adding: "It was made clear that a deal was there to be done where 'the EBT issue' would be dealt with as part of a package of sanctions which would be implemented in return for membership of the SFA and a place in either the SPL or Division One."
Rangers was not the only club in Scotland to use EBTs yet nothing was done and little has been heard about it.
"Furthermore, as a club we are not satisfied that the issue of conflict of interest relating to advisers to the SPL has been satisfactorily dealt with."