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Following a petition was adjourned in the High Court bury have been given a 14-day extension.
The club have been given the time to pay businesses that are smaller back, reports BBC Radio Manchester.
The Shakers were expelled Because of the financial problems in the English Football League in August.
A buyer for the team ended their attention leaving Bury on the verge of liquidation.
A group of Bury supporters have been working on plans to form a phoenix club and would have to apply to the English non-league pyramid season.
Bury North MP James Frith reported favorable discussions, also fulfilled with the FA final week to discuss possible entrance into the National League system, the fifth and sixth tiers of soccer.
National League regulations say that its committee will ascertain”in its absolute discretion” where league any new team shall be set and will set out requirements to be met by the new club.
A first application must be made by 1 March, together with all documentation submitted by 31 March.
Talking to BBC Radio Manchester on Tuesday, Frith said:”In the event that the club is rigged, we have to carry on with the program which is an application to the National League platform with a fresh incarnation of Bury Football Club.
“From my discussions with the FA, that can include what they call , which would mean our program could be considered together with the size and legacy of our club.
“While liquidation would ordinarily mean entry to the lowest step in the pyramid, there’s an outside chance with Bury’s circumstances – which would be featured in almost any program we would create – being relegated to an proper level in the National League system”
Bury reached promotion to League One last season amid a backdrop of severe financial difficulty, which was ongoing even before Steve Dale bought the club in preceding proprietor Stewart Day.
The team was up available within five months, together with Dale stating the problems”proven to be far in excess of what we could have understood”.
A company voluntary arrangement (CVA) was agreed with creditors to help clear some of their club’s debts, causing a 12-point deduction.
Bury six fixtures of the season were frozen while the EFL expected evidence of it would cover creditors and that it had the funding to finish the campaign that was 2019-20.
Every time a last-ditch takeover bid by C&N Sporting Risk dropped before the EFL’s deadline on 27 August, the team said it decided”after a lengthy and in depth discussion” to remove Bury’s EFL membership”with enormous regret”.
It was the very first club to have its league membership because Maidstone were liquidated in 1992, withdrawn.
A”rescue board” – including local politicians and fans’ group Bury – made a proposal for the Shakers to be placed in League Two next year, however, it”didn’t have the essential service” and was rejected at an assembly of the EFL’s member teams on 26 September.
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