Heart of Midlothian have not been hit with an 18-point deduction which would have brought about automatic relegation.
The Edinburgh club were facing the sanction due to the insolvency of majority shareholder UBIG but a Scottish Premier League ruling has spared the Jambos any points deduction as the insolvent announcement by the Lithuanian bank did not coincide with the football club during the recently-completed SPL season.
"The SPL Board met today to consider reports from Lithuania in respect of Ukio Banko Investicine Grupe," read a SPL statement.
"The Board are not satisfied, on the basis of information currently available to it, that an insolvency event (as defined by SPL Rules) occurred in respect of UBIG during Season 2012-2013."
SPL chairman Ralph Topping added: "We acted on the information that was available to us.
"That's not to say that other information will not come forward in the next few days or weeks ahead but we can only deal with what we have got at the moment and, on that basis, there is no insolvency event under our rules.
"It's good news at the moment. With everything in Scottish football, there is temporary respite."