A winding-up petition against Bury has been dismissed in the High Court.
Financially-stricken Bury, who were expelled from the Football League in August, faced liquidation over an unpaid £4,000 tax bill.
But the High Court was today on Wednesday today that the bill has now been paid.
The decision gives club, who were founded in 1885 and still exists despite not having a league to play in, a reprieve.
Bury lost their place in League One last year when a takeover bid from C and N Sporting Risk collapsed.
The club appeared to be on the brink of liquidation after a further prospective buyer ended their interest in October, but businessman Robert Benwell outlined his plan in December to "bring football back to Bury".
One of the options is to start the club again if it goes into liquidation. The Bury FC name could be retained and they could make an application to rejoin the English football pyramid next season.
A phoenix club named Bury AFC have also made plans to enter lower down the pyramid.
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