Southend United's winding-up petition was dismissed at the high court on Wednesday after a late deal was struck with the club's last remaining creditor. Southend United chairman Ron Martin was in London for the rescheduled hearing, having been given an extra month to settle debts with the legal firm Stewarts and a former club sponsor. The hearing at the Rolls building lasted less than two minutes after Martin struck a deal with the former sponsor outside the courtroom. Martin has agreed a takeover deal with the Custodians of Southend United consortium, headed by Australian businessman Justin Rees. The club was deducted 10 points by the National League last August after failing to meet a deadline to pay a £275,000 tax bill but still finished ninth. The National League had told Southend to provide a £1m bond in order to compete in the coming season due to uncertainty over their financial situation. The Shrimpers Trust, the club's supporters' group, called on the National League to show compassion and urged Martin to take the deal or lose everything. Martin is due to meet members of Cosu and the local council to discuss the takeover and resolve issues over a housing development at Fossetts Farm. The deal is a significant step forward for the club, which has been facing financial difficulties. The future of Southend United is now looking more secure, with the potential takeover by Cosu paving the way for stability and growth. The club's fans will be relieved that the winding-up order has been avoided, and will be hoping that the takeover can be completed soon. The situation is still complex, but the deal is a positive step forward for Southend United. The club can now focus on the upcoming season, and the fans can look forward to watching their team play without the uncertainty of the winding-up order hanging over them.