John Armstrong Holmes remains chairman of Notts County after a vote of no confidence did not go ahead.
There had been speculation that the vote would take place at a meeting of the Supporters Trust board on Thursday.
But it is understood a motion to carry out the vote ended in deadlock and no date was set to reconvene the meeting.
The five-hour meeting was called by seven members of the 15-strong board, who claim they have not been informed of the club's financial situation.
It is understood issues raised with Armstrong Holmes on Thursday included possible investment in the club, its current financial position and ground safety concerns raised by the city council.
Last week the chairman revealed a proposed �2m investment is in jeopardy because the deal is out in the open.
Armstrong-Holmes has confirmed the club have been in negotiations with a group of local businessmen since September.
But he says he cannot discuss details because of a confidentiality agreement.
He added: "As soon as the expression of interest was received, I made that known to directors of the Football Club, the shareholders and the chairman of the Supporters' Trust Board.
"Until it gets to the stage where the expression of interest becomes a firm proposal, there is nothing more to be said."
The club's Supporters' Trust owns the majority of shares in County.
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