Truro City have formally applied to go into administration, in a move that could save the Cornish non-League football club.
Club chairman Chris Webb announced the plan to file for administration last Friday, in a bid to secure their future.
Webb said he believed that the move would head off the winding-up order from Her Majesty's Revenue and Customs, which was heard and adjourned in London's High Court yesterday morning.
James Moore, of Walker Morris, has formally submitted the administration application to the High Court.
If the winding-up order had gone ahead, the club could have folded. The administration application means that the club will be docked ten Blue Square Bet South points but will still be able to play on this term.
However, there is continued uncertainty over the short-term financial future of the club, with money needed for players' wages and travel costs. Tonight's league game away to Basingstoke Town will go ahead.
Yesterday, Webb said: "The application for administration follows this morning's proceedings in the High Court, when a winding-up order against the club, brought by Her Majesty's Revenue and Customs, was adjourned until September 17.
"As I understand it, the application for administration means that the winding-up order will be dismissed."
Webb, a long-serving club stalwart, took over as chairman last month, after his predecessor Kevin Heaney stood down. The Truro-based property developer was declared bankrupt at Truro County Court on August 24.