The Scottish Football League is contemplating relegating Livingston to the Third Division if they cannot give assurances over players' wages.
The possible measure could be taken after the SFL play-offs are played.
Some Livi players have still not been paid wages for April and club chairman Angelo Massone met SFL chief executive David Longmuir to discuss the issue.
One player revealed last week that at least six squad players have not been paid their wages for last month.
Businesses have also sought court action to recover outstanding debts from the First Division club.
Massone has consistently insisted that the First Division club is not in serious financial trouble.
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