Truro City Football Club have gone into administration but will no longer face a winding-up order in the High Court.
Club spokesman James Moore confirmed an administration order had been granted for the Blue Square Bet South side.
A registrar ruled on Monday that a winding-up petition against the club over an unpaid tax bill would be dismissed if the order was granted.
The club are set to be docked 10 points by the Football Conference as a result of entering administration.
Kate Breese, of the law firm Walsh Taylor, has been appointed as the official administrator.
Earlier this week, the club had their hearing over an unpaid tax bill adjourned for another fortnight.