Bury Football Club – with its opening game of the new season on Saturday cancelled by the EFL because of financial worries – has finally fought off a High Court winding up move at its fourth attempt.

Six weeks ago, the debt-laden Shakers were given more time to seek a company voluntary agreement (CVA) to stave off an immediate winding up petition over a reported £277,640 debt brought by the tax authority, plus those by numerous other creditors totalling an estimated £4 million.

That CVA – an agreement between an insolvent company and its creditors – has now been agreed, owner Steve Dale staying in control as a result.

This morning at the court in London, HM Revenue & Customs’ barrister reported that the CVA had been approved and she asked for the winding up petition to be dismissed.

And after two supporting creditors, plus the barrister for the club, all stated that that was also their application top insolvency judge, Judge Mark Mullen, dismissed the winding up petition.

On Monday the EFL said assurances about the club’s future funding were not satisfactory and it called off the Shakers’ opening game of the 2019-20 season this Saturday against MK Dons.

That brought a furious retort from the under-fire Dale who claimed an injustice, admitting he didn’t know what the club’s next move would be.

He now has until Friday to prove that the game at Accrington Stanley on August 10 can go ahead. 

Only a handful of contract players remain at Gigg Lane with several having joined promotion-winning manager Ryan Lowe at Plymouth.

Apart from HM Revenue & Customs, other Bury FC Co Ltd creditors named at various court hearings include Capital Bridge Finances said to be owed £3.5million, Quantum Finance Ltd, £87,000; former assistant manager Chris Brass, £89,000; SM Impact Ltd and Stellar Football Ltd.

Other sums mentioned as due to various creditors include sums of £465,000 and £4,800.

The Insolvency and Companies Court judge six weeks ago granted more time after hearing there were three prospective buyers for the historic club, which has been newly promoted to League One.

If the court moves had ended in the petition being granted and the club wound up its affairs would have been handed over to the Official Receiver.

His job would then have been to do his best to ensure that debts are paid off by selling any assets available and then bringing the business to a close.