Lotus has been given until the 25th September to come up with funding after its High Court case on Friday was adjourned.
Lotus had been present at the High Court over an unpaid tax bill of £900,000 owed to HMRC [UK Revenue and Customs].
Justice Birss has given Lotus until next Friday to come up with the money, with the squad edging closer to a deal with Renault.
"The parties have satisfied me that that there is genuinely a real prospect that the first stage of the deal that is being described will be signed in the next seven days, which will allow significant funding to go into the company," explained Justice Birrs.
He added that the case would not be adjourned again, meaning Lotus faces the risk of entering administration if a deal with Renault cannot be concluded.