Cardiff chairman Peter Ridsdale has warned the club faces immediate administration should they fail to win their imminent court case.
Langston, the club's biggest creditors, claim to be owed in excess of £30million and are taking the Bluebirds to the High Court next Monday, December 10, after the club insisted the debt was not due to be repaid until 2016.
Ridsdale, who will attend an emergency board meeting in London tomorrow, remains confident of winning the court case but believes the consequences will be disastrous if they do not, or the hearing is put back.
"The court case has to happen - to have it deferred for some reason would be a bigger disaster than losing," Ridsdale told the South Wales Echo.
"We are ready for the High Court and confident we will win.
"We will not go into administration unless it is forced - but if the case was deferred we would have to face that situation."