Bury have been given more time to settle their debts in a bid to avoid a winding-up order.
Lawyers for the club told a specialist insolvency and companies court in London on Wednesday that a further extension was needed to investigate whether the club has paid too much tax to HM Revenue and Customs.
Judge Nicholas Briggs adjourned the case until December 4.
The club’s membership of the English Football League was withdrawn on August 27 after owner Steve Dale failed to meet a deadline to provide guarantees that Bury were in a position to fulfil their Sky Bet League One fixtures.
They became the first club to drop out of the EFL since Maidstone were liquidated in 1992.
A bid to reinstate the club in League Two for the start of next season was rejected by the remaining 71 member clubs of the EFL.
The club believe that, despite not paying staff, they have continued to automatically pay tax on the wages that would otherwise have been paid.
Judge Briggs said the adjournment was “to determine whether HMRC have been overpaid”.
He added: “Let’s sort it out and I’ll give you time to do it.”
Bury North MP James Frith met with Football Association officials earlier this month to discuss the possibility of the club joining the pyramid at National League level.
Plans are already being formulated for a phoenix club should Bury ultimately be liquidated.
A statement posted on buryphoenix.co.uk on Tuesday said that four of its representatives would be co-opted onto the board of supporters’ group Forever Bury in a bid to present “a united front” to the FA.
