Portsmouth have been granted a seven-day adjournment in the High Court over the winding-up petition served on the club by Her Majesty's Revenue and Customs.
A hearing in London on Wednesday saw Pompey avoid going out of business altogether, with a packed court schedule meaning that their next hearing will not take place until a week on Friday at the earliest.
During today's proceedings, HMRC claimed that the South Coast club owe in the region of £11.5million, with the Premier League strugglers having previously stated that their debts were around £7.5million.
Portsmouth had hoped to be given 28 days to pay off their debts, but they will now have to provide a Statement of Affairs in a week's time.
In court, lawyers acting for Pompey claimed that a couple of offers were on the table to help the club escape from their crippling debt.
For their part, representatives of HMRC described Portsmouth as 'insolvent'.