County owe HM Revenue and Customs £200,000 in unpaid taxes.
Notts County have been given time to complete the sale of the club after a winding-up petition was adjourned by the High Court until June 5.
Notts owner Alan Hardy announced last week he was close to selling the club, who owe HM Revenue and Customs £200,000 in unpaid taxes.
“We have been given until June 5 to settle our debt to HMRC,” the Sky Bet League Two club said on Twitter.
“At a High Court hearing (on Wednesday), the judge adjourned the case in order to allow sufficient time for the takeover of the club to be completed.”
Hardy saved County from possible extinction in January 2017 when he bought out predecessor Ray Trew, but put the club up for sale in January this year.
Hardy’s company Paragon Interiors went into administration, but he confirmed last week that he hoped prospective new owners would be able to take the Magpies forward after completing due diligence.
Hardy said last week he expected the outstanding HMRC debt to be paid in full by early May.
The Magpies are bottom of the table, two points from safety, but remain hopeful of retaining Football League status after losing only one of their last five matches.
Notts County owner Alan Hardy says new buyers will take club to the Championship