The ex-Scotland and Rangers captain was declared insolvent after failing to settle large bills thought to be owed to the taxman.
He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts (EBTs) after Rangers lost a battle with HMRC at the Supreme Court earlier this month.
The 39-year-old, who recently stepped down as manager of Clyde, received £2.5million in EBT payments.
He also invested in a film production partnership called Eclipse which was targeted by HMRC after being ruled to be a tax avoidance scheme.
Ferguson had a glittering career which included captaining Rangers to a host of honours.
He also had spells in the English Premier League with Blackburn Rovers and Birmingham Ci…
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