Rangers entered administration in February 2012. An attempt to take the club out of administration by means of a creditors voluntary arrangement was rejected by HM Revenue & Customs, the largest creditor, putting the club into liquidation in June 2012. The administrator, Duff & Phelps, sold the assets of Rangers to a consortium led by Charles Green. Smith said that he was leading a consortium offering a deal to buy the assets from Green, but this offer was withdrawn days later. On 11 November 2012, Smith returned to Ibrox taking on a role with the new Rangers company as a non-executive director. Smith was appointed non-executive chairman in May 2013, but he resigned from the board in August.