The signing of Fabrizio Ravanelli would not have pleased the bank

Some have predicted that handing the Dens Park reins to accountants Ernst and Young will have a domino effect that will engulf many more clubs in the Scottish Premier League.

But John Moore, investment manager with Bell Lawrie White, is one of those who believes that Dundee are a maverick club that followed a doomed strategy of signing expensive foreign imports.

"Personally, I view Dundee as a unique situation," he told this website.

"They contributed to their own demise by bringing in attractive players in the hope of attracting bigger crowds and selling them on later for a profit.

What Dundee are doing is sensible in the long term John Moore

"Apart from selling Claudio Caniggia to Rangers, it did not work out. They took a gamble and it has not paid off.

"A club like Dunfermline, with quite a large squad, are a wee bit vulnerable to something similar, but the majority of Scottish football is quite sensible.

"This is a one-off sideshow in that respect."

Former manager Ivano Bonetti is taking court action against the club, saying he his owed money he lent the club for the purchase of players during his reign.

But Moore does not believe it would have benefited Bonetti to force the club into liquidation and said: "It is probably a combination of factors and, reading between the lines, the Bank of Scotland have said enough is enough."

Motherwell went into administration in 2002, shed 19 players, sold prize asset James McFadden to Everton and are now sitting fourth in the SPL.

"What Dundee are doing is sensible in the long term and Motherwell have shown what you can do with a hungry young squad and a good coach," said Moore.

He pointed out that the situation at Dens Park was complicated by the involvement of controversial lawyer and prospective director Giovanni di Stefano.

Di Stefano had promised to invest �26m and has been angered by the club going into administration.

Ivano Bonetti brought some expensive players to Dundee

However, Moore believes that it would be a strange situation if, as a non-executive director, Di Stefano was not aware that such a decision had been brewing for some time.

Di Stefano's money recently helped the club sign veteran former internationals Craig Burley and Fabrizio Ravanelli, who have been released along with 13 other players.

The bank could have been concerned at the club signing a player on �10,000-per-week while debts were still rising.

David Glenn, of Pricewaterhouse Coopers, added: ""What we have generally seen among other clubs is that they have been pretty serious in their cost-cutting.

"Dundee's situation was one we highlighted in our annual reports, with a wage bill of �5.5m but a turnover of �3.5m and debts now claimed to be as high as �20m.

"Everyone has their limits and football clubs must at least be able to finance their debts.

"Dundee must have been finding it difficult to do so and at that point you have to say no more."