HM Revenue & Customs have dismissed a winding-up petition against Cambridge Rugby Club, securing the team's immediate future.
Cambridge had reached their survival fund target of £225,000 in November and asked for an initial hearing to be adjourned until 8 December.
A supporters trust raised £167,000 from fund raising and made up the remainder through a bank loan.
The club says it hopes to be trading out of debt within five to seven years.
