Tax litigation involving struggling Bolton has come to an end at the High Court.
Inland Revenue officials wanted Bolton wound up after complaining that the football club owed more than £2million.
But, in London on Monday, Registrar Clive Jones dismissed the winding-up petition after hearing that the debt had been paid in full.
Former Manchester City and Sunderland manager Peter Reid is back in football after agreeing to join the coaching staff at Bolton.
The 59-year-old started his playing career at Wanderers in the 1970s, going on to make 257 appearances before joining Everton, and he has returned to the Sky Bet Championship club to assist new interim manager Jimmy Phillips.
Reid last managed in England with Plymouth in 2011 and most recently coached Indian club Mumbai City in 2014.
"We are delighted that Peter has agreed to come in and be part of the team for the rest of the season," chief executive Dean Holdsworth told the club's official website.
"Peter's experience, standards, drive and personality will without doubt give the club a lift."
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Bolton Wanderers have been given more time to pay a £2.2 million tax bill after lawyers told a specialist judge in the High Court that "significant progress" had been made in plans to sell the club.
Tax authority officials have asked for Bolton - who slipped to the bottom of the Sky Bet Championship on Saturday after losing 2-1 at Leeds - to be wound up after complaining that the club had not paid a £2.2 million bill.
But Registrar Clive Jones refused to grant a winding-up application by HM Revenue and Customs at a High Court hearing in London on Monday.
Struggling Bolton have won a reprieve in their fight for survival after tax officials asked for the Championship club to be wound up.
Lawyers representing Bolton told a specialist judge at the High Court on Monday that efforts were being made to raise money. And Registrar Clive Jones said more evidence would be analysed at another hearing next month.
On January 18, Registrar Michael Briggs heard that Bolton owed HM Revenue and Customs £2.2million.
A Bolton spokesman indicated after that hearing that bosses were aiming to find a buyer or raise money from asset sales.
On Friday, Bolton bosses said the club's training ground had been sold to Wigan.
Bolton Wanderers can announce that the club has today been given an adjournment of 14 days by the High Court in order to conclude a deal with the Sports Shield Consortium in taking ownership of the club. Trevor Birch, advisor to the board and owner at Bolton Wanderers, said: “Whilst this continues to be a challenging time for everyone associated with the club, we are confident that this adjournment will give us the necessary time to conclude a transfer of ownership of the club, subject to approval from The Football League.
Bolton manager Neil Lennon wants his players to honour long-serving chairman Phil Gartside by staying in the Championship.
Gartside died from cancer on Wednesday at the age of 63, three months after ill health forced him to step away from his duties at the club.
I'd like to think the players would make a stand for Phil now and do something positive in his memory. And that is to survive.
We've given ourselves a foothold in the race. We've got some difficult fixtures to negotiate but there's an extra motivation now - as if we needed any more.
I know some of the players were close to Phil as well and had a great relationship with him so hopefully through all these bad times there might be something good to come out of it in terms of driving the club forward.
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Non-league Eastleigh's FA Cup journey ended in a 3-2 loss at Bolton as captain Darren Pratley's second-half winner eliminated a club 53 places below Wanderers in the football pyramid.
In an enthralling third-round tie that had been snubbed for television coverage, the only side outside of the Football League still in the competition led through Joe Partington's 11th-minute opener.
At that point Neil Lennon's Championship side were facing up to the possibility of being embarrassingly dumped out of the FA Cup just a day after HM Revenue and Customs had, unsuccessfully, tried to have them liquidated in the High Court over an unpaid tax bill of £2.2million.
Cash-strapped Wanderers were given a five-week stay of execution in the court on Monday and fought back on the pitch too as goals from Gary Madine and Dean Moxey put them ahead.
And even though Kaid Mohamed levelled in first-half stoppage time, Pratley, whose 87th-minute equaliser forced this replay, proved the Spitfires' scourge again to set up a fourth-round game against Leeds.