Wellington property developer and Phoenix football club owner Terry Serepisos has rescued three of his companies from liquidation with an 11th hour payment.
However, the fate of two other companies remain uncertain.
The Department of Inland Revenue and the Accident Compensation Corporation had been seeking a total of about $4 million from the businessman.
On Monday, the High Court in Wellington gave Mr Serepisos a 24-hour adjournment to ensure that a cheque he obtained from an unnamed source was cleared and payment made in full.
In Tuesday's hearing, the seventh in the case, Associate Judge Gendall was told there had been full repayment for three companies, including Century City Football, which owns the licence to the Wellington Phoenix.
Lawyers told the court that Century City Management and Century City Hunter Street will pay off their debts to Inland Revenue, which amount to more than a $1 million, within six months.
Judge Gendall refused to dismiss liquidation proceedings against those companies, saying various promises of payment had been made in the past.
The judge adjourned the case for almost six months so the court could monitor the payment.
Mr Serepisos has been seeking a loan overseas from financier Western Gulf Advisory, but his lawyer Justin Toebes says that money has not arrived.
Mr Toebes says there had been some tension in court over tax still owing, but his client was committed to paying his bills.
Wellington Phoenix chief executive Nathan Greenham says the club requires money to hire staff and players it needs for when the season starts in October.
Mr Greenham says the club is financially comfortable in the off-season.
