The High Court have confirmed that Notts County's parent company Blenheim 1862 have been given until February 24 to avoid winding-up proceedings.
The club announced on Tuesday that they had found a new investor to pay off all debts, but would not reveal their identity.
HM Revenue and Customs, who are believed to be owed £324,206, agreed on Wednesday not to contest a 28-day extension as the club finalise the terms of the deal.
However, the court registrar presiding over the case said: "In the circumstances I am not going to grant substitution. I will stand it over for 28 days until 24 February and if there is refinancing going on then it is incumbent upon the company to deal with all its creditors."