Leyton Orient Football Club have avoided being wound up in the High Court after creditors were paid in full, Sky Sports News HQ understands.
Francesco Becchetti will remain as owner after the petition - which had been held over from March - was dismissed.
A lawyer representing Orient told Registrar Sally Barber that all debts had been paid at a Bankruptcy & Companies Court hearing in London and she dismissed all bids to have the club wound up.
The club's former stewarding company, Centre Circle Event Management Ltd, had applied for an order over an outstanding debt of £18,600.
The judge also heard a council was owed about £35,000 and a photographer about £6,000.
Orient were relegated from League Two last season just three years after missing out on a place in the Championship when they lost a Wembley play-off final on penalties.
The club was under threat of being placed in administration and then going into liquidation when HM Revenue & Customs applied for a winding-up order in March because of an unpaid tax bill.
But Becchetti settled the bill, believed to be £250,000, securing the club's future in the short term.