Rangers are not about to give on seeking compensation for those players that decided not to transfer from the oldco to the newco. They have failed in their first attempt but are determined to take things to the next level. Six players left the club, citing employment law, after the oldco was consigned to liquidation in June. It is understood an arbitration process was facilitated by the SFA and involved a representative from both parties along with a QC, who ruled against the club. A hearing was held earlier this month and on Wednesday night Rangers issued a statement in response to the ruling, which has not been made public. The statement read: "Rangers Football Club today received notification of the SFA arbitration panel's decision which ruled that the club did not inherit the right to continue the arbitration process started by oldco. This was always a possible outcome of what was purely a procedural hearing. Suspecting this would be the outcome, the club had already filed a further Notice to Refer under SFA article 99. This was done before the end of last year and that process will now continue. The club had argued that since oldco's registration had been transferred to newco the right to continue the case would also have transferred. Nothing has been won or lost at this stage and the club will continue with its action."