Basketball Otago delegates have voted against a resolution to appoint a liquidator despite the organisation having debts of just under $179,000.
The vote was unanimous with all 10 voting members deciding to delay the liquidation process. BBO will meet again on February 10 when delegates will vote whether to proceed with liquidation.
The decision took Keep Basketball in Otago spokeswoman Angela Ruske by surprise.
The way the meeting had gone, Ruske felt the delegates would vote to begin the liquidation process.
It was a tense wait. Delegates voted by ballot in a separate room and emerged about 30 minutes later.
''It was unexpected and we are very happy with that result,'' she said.
''It gives us more opportunity now to present something to potential sponsors and we've got more time to get the money in.''
''There are still opportunities to form a new entity and we don't see this [delay] as jeopardising basketball in Otago moving forward in any way.''
The group has already raised or been pledged $16,500 and hopes to raise enough to clear BBO's debt.
Its three main fundraising drives are through an online sales promotion where one customer will win a singlet signed by New Zealand NBA player Steven Adams and a trip to the United States to see him play.
There is a pledge wall where companies and individuals can make pledges. And the Canterbury Rams will play a pre-season game at the Edgar Centre.
The fixture will also feature a charity auction.
By mid-January, the group should know whether it will be able to raise enough funds to pay back the creditors.
It is an ambitious goal to raise so much money, but Ruske told the meeting the group believed it owed it to BBO's creditors to try.
BBO's acting accountant, Karl Andrews, told the meeting BBO had basically doubled its debt since December last year and had very little in the way of funds or assets to pay back its creditors.
Dunedin Indoor Sports Venue Trust chairman Robin Bates said the Edgar Centre was owed $67,000 but there were ''ways and means'' that money could be recovered without BBO liquidating.
That could lower the bar significantly for the group and Ruske said Keep Basketball in Otago was keen to be involved in the process of negotiating with the creditors.
With no board in place, Sport Otago will act on behalf of BBO.
It will communicate with BBO's members and facilitate negotiations with the creditors.
Basketball New Zealand is the other major stakeholder.
It has acted to preserve community basketball by paying BBO competitions manager Greg Brockbank and by honouring another part-time contract.
However, it it cannot continue to fund the positions indefinitely, indicating the money would run out in mid-January.
