Former Macclesfield manager Sol Campbell wants the club to be wound up because debts have not been paid, a judge has heard.
Judge Catherine Addy was told on Wednesday that Macclesfield bosses owed a "very large" amount of tax and owed Campbell more than £180,000.
Tax officials have asked for the club to be wound up and the now Southend United manager Campbell supported that application, lawyers told Judge Addy.
The judge was given updates on the League Two club's debt problems at a hearing in the specialist Insolvency and Companies Court in London.
She said Macclesfield bosses should get time to clear debts and said the case would be reconsidered on December 18.
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The Cheshire club were charged by the EFL with misconduct last month over their failure to pay players.
Their case was referred to an independent disciplinary commission which has the power to impose "a full range of sanctions" if the club are found guilty.
Macclesfield have become the latest EFL club to experience financial difficulties, with Bury being expelled from the league and Bolton only surviving thanks to a last-ditch takeover.
The EFL said on November 12 that wages from July to September had been paid from solidarity and basic award payments.
Macclesfield staff, coaching staff and players say they are close to breaking point and have reacted angrily to suggestions by majority shareholder Amar Alkadhi that the club is in a "healthy state".
A source at the club told Sky Sports News: "In response to comments made by majority shareholder Amar Alkadhi, we would like to formally state how disappointed and bewildered we were in light of claims that the club is in a healthy state.
"The financial and mental torture that both players and staff continue to be put through every single month proves beyond any reasonable doubt that this is far from an accurate assessment.
"To hear these words broadcast on national media is nothing short of devastating - especially as we enter the festive period.
"As a collective, we are on our knees and the only hope that we can cling to are false promises which are seldom honoured.
"We appeal to the majority shareholder that anyone who can help us end this personal and collective torment are listened to.
"Our lives are being ripped apart, when all we want to do is give everything we have for the club and their incredibly loyal fans."
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It was reported on Monday that players had threatened to go on strike for Saturday's league game against Crewe if the latest wages were not paid.
The first team followed through on a strike threat last month, forcing the club to field youth team players in an FA Cup tie against Kingstonian.
Barrister Raj Arumugam, who represented HM Revenue & Customs, asked the judge to make a winding up order.
He did not say how much tax Macclesfield owed but the judge said the sum was "very large".
Later on Wednesday, owner Alkadhi insisted the club was In good shape and has pleaded with creditors to stop trying to have the club wound up in the courts so he can pay staff and players.
Alkadhi told Sky Sports News: "We are a very solvent club, with two bank accounts which stop working randomly because of the needless winding up orders.
"If they just stop issuing them then we can just pay everybody and get on with things. It's almost impossible to operate and trade in the UK without fully operational bank accounts."
Barrister Philip Currie, who represented Campbell, said Macclesfield owed his client about £182,000. He said Campbell also wanted the club to be wound up.
Barrister Sam Hodge, who represented Macclesfield, told of money transaction difficulties.
He said there had been issues moving "large sums" from a director's account in Spain. Mr Hodge said a payment made to HMRC had "bounced back".
The judge adjourned the case for two weeks and said if "banking transaction problems" continued she wanted them to be explained in detail in writing.
