The club's owners Tom Hicks and George Gillett asked a judge to delay the hearing of an application by creditors Royal Bank of Scotland (RBS) for mandatory orders paving the way for a possible sale this week.
But the plea was rejected by Mr Justice Floyd, sitting at the High Court in London.
This removes the final stumbling block to a £300million takeover by New England Sports Ventures (NESV), which will see the RBS recoup its original £237million loan to Mr Hicks and Mr Gillett when they bought the club in March 2007.