Coleraine Football Club face a winding-up order

The Inland Revenue had applied for a winding-up order following the club's failure to settle a debt of �364,979.

But a legal requirement to advertise the move meant that the Bankruptcy Master Charles Redpath was unable to make a formal order.

Mr Redpath said he would put off the hearing for just one week because players could miss the transfer window.

Coleraine had overall debts of around �1m but, while other creditors accepted a voluntary settlement arrangement, the Inland Revenue would not.

Mr Redpath said the simple fact was that Coleraine FC could not pay its debts and had been unable to do so for some considerable time.

"One has to have concern about creditors, not least when you see the number of people who are clearly supporters and others who are interested in the club and have lost substantial sums of money," Mr Redpath said.

He said that at next week's resumed hearing he hoped the Crown would have have decided whether the matter could proceed without advertising.

"I think there is a general power to dispense with that," he said.