Championship team Cardiff received a major boost on Wednesday as a winding-up order against the club was officially withdrawn following a High Court hearing in London. The Welsh outfit, bolstered by recent investment from a Malaysian consortium backed by new Cardiff chairman Datuk Chan Tien Ghee, recently settled a 1.9 million pounds (2.8 million dollars) debt owed to British tax authorities which had threatened their existence last season. As a result the winding-up petition has now been formally discharged, meaning a transfer embargo which stopped Cardiff manager Dave Jones signing players can be removed. Bluebirds chief executive Gethin Jenkins told Cardiff's website: 'This is obviously good news for the club as we start to build a strong foundation upon which the business and the team can properly function. 'We can now look forward to the season and to develop our ongoing recruitment plans.' Despite their financial worries, Cardiff narrowly missed out on a place in the Premier League last season after being beaten 3-2 by Blackpool in the Championship play-off final at Wembley. 