A statement on the club's official website announced that Cardiff City have had a winding-up order adjourned for 28 days by the High Court in London.
During a short hearing, the court heard that the club had paid £1million to Her Majesty's Revenue and Customs in part settlement of a tax debt.
This payment had been made on Tuesday February 9 and HMRC had no objection to the club's request for a 28-day extension to pay off the balance.
Cardiff City chairman and chief executive Peter Ridsdale was in court to hear the decision.
The club have an Extra Ordinary General meeting on February 24th to confirm the sale of land where the House of Sport will be built.
More money will be raised from that sale and it's thought that cash is ear-marked for HMRC and that's why the club have been given the extra 28 days.
League 1 side Southend were also given 28 days to sort themselves out but the High Court decided that Portsmouth could only have 7 days to come up with the reported £11m cash they need to pay back the tax/vat owed from Fratton Park.
Bluebirds pay off part of tax debt
Source: PA