The troubled Arrows Formula One team's bid to be put into administration has been delayed following a High Court hearing.

Cash-strapped Arrows are in the middle of negotiations with German investors to ensure their future in the sport and had applied to temporarily be placed in administration during negotiations.

But on Monday, lawyers for the team said they planned to adjourn the administration petition.

The team has also been in court to face a winding up order brought against them by a number of creditors who are owed money, including former driver Heinz-Harald Frentzen.

The two matters will now be heard in December by a court in Birmingham.

First Mr Justice Lightman must decide if major creditor Morgan Grenfell has a security over Arrows' assets and whether Morgan Grenfell has a guarantee from Arrows boss Tom Walkinshaw to recover any shortfall.

"It is a matter of great urgency for the parties and creditors generally to know whether or not this security is valid," Justice Lightman said during Monday's hearing.

Arrows said on Tuesday that German-based investors had agreed to inject cash into the struggling F1 team, which missed six Grands Prix last season.

If the company is taken over by the investors, which could happen in the next few days, the request for administration will become redundant.