Southend United have announced they will not be wound up tomorrow when they return to the High Court.
The League One club were given a further seven days to pay their £378,500 debt to Her Majesty's Revenue & Customs after their case was adjourned last week.
However, they revealed this morning that the tax bill has been settled since that hearing but "as a formality the case still has to go before the court to be dismissed".
Chairman Ron Martin believes Southend can now put their turmoil behind them. "I'm really positive about the future of the club," he said.
"When people look back at this in the future they will say this is just a blip. The world has been in financial turmoil and I'm not immune to it.
"If I was going to give up the fight, I would have done it long before now."
