Plymouth Argyle have had a HM Revenue & Customs winding-up order for unpaid tax dropped in the High Court.
The order was one of the reasons the Pilgrims had a transfer embargo imposed on them in December.
The club owed HMRC outstanding tax on a number of transfer fees and they could not settle the debt until they received a £1m loan from their owners.
In a statement the club said: "As expected, Revenue and Customs withdrew their action today [Wednesday]."
It continued: "We now look forward to building on our exciting new signings and the retention of our key players to improve our league position.
"We hope that the people of Plymouth, Devon and Cornwall will get behind Paul Mariner and his squad."
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