The First Division side were relegated to the bottom tier in 2009 after calling in administrators.
The decision was taken by the SFL but, after an appeal was thrown out, the club asked the SFA to intervene only to be told the punishment was "fair and reasonable".
Livi, who have returned to the First Division after back-to-back promotions, want Rangers to be treated the same way and it's believed they submitted a letter to Hampden warning of legal action if this fails to transpire.
But an SFA insider has rubbished the idea and said: "I think someone at Livingston has been opportunistic.
"The Scottish FA has adopted an entirely different judicial system in the past year and both cases are completely different and completely separate."
Livi chairman Gordon McDougall has claimed that Scottish football will be "tarnished" if Rangers are allowed to start afresh in the SPL as a newco, should attempts to secure a CVA fail.





