A winding-up petition against Lisburn Distillery Football Club has been dismissed at the High Court.
The troubled Carling Premiership side's future had been in doubt over an unpaid rates bill of £65,000.
But following a private hearing on Thursday, it was confirmed that the action has ended.
No further details were disclosed, although it is being seen as a major boost for a club whose debts have been reported as being in the region of £280,000.
Distillery has already entered into a Company Voluntary Arrangement as part of efforts to resolve its financial affairs.
Last December chairman Jim McGrory and other board members resigned after news of the winding-up petition emerged.
Although no one from the club was immediately available for comment, former manager Paul Kirk - who was sacked last May - expressed delight that the court action was over.
Kirk, who spent 13 years at the club, which is currently bottom of the league, said: "It seems to be some light at the end of the tunnel for them.
"I'm delighted the winding-up order hasn't gone through and I'm delighted that they seem to be winning games on the pitch again."
© UTV News