Their local paper is following things closely...
11.35am
Sponsorship in lieu of cash was turned down by creditors holding out for 10p in the pound, reports Brian Coates.
Businessman Gary Pearson was contacted by an intermediary on behalf of administrators this morning.
He runs Jacamast Ltd, of Huddersfield, and is owed £193,000 following work on the half-finished east stand.
"They were hoping to get something in place and I've been asked if I would accept sponsorship but I won't for that money," he said.
"We feel 10p is still a poor offer. We have to draw the line and that is where we are drawing the line."
Mr Pearson's stance is backed by Roy Barnett who is owned a similar sum for work on the stand.
"Sponsorship might not be worth anything," said Mr Pearson.
11.30am
Geoff Ralph, who left the meeting at 11.30am, told the Courier's Dave Fletcher talks were progressing but could take some time. A sticking point is understood to be how much was owed to the Inland Revenue.
It is thought two votes will be taken on any rescue package proposed - the first where 75 per cent of creditors need to agree and the second where a simple majority was required but only among creditors not directly involved with the club.
10.40am
As administrators frantically try to save Halifax Town this morning a major creditor refuses to compromise, reports Brian Coates.
Roy Barnett is owed nearly £200,000 and insisted he receives 10p in the pound rather than the 2.5p offered on Wednesday.
Speaking to the Courier 30 minutes into the 10am meeting he said: "The last I heard was there might be a short adjournment for a couple of hours to try and get the dividend increased.
"My position has not changed.
"I get £20,000 or I don't get anything. There is no room for negotiation.
"However they want to do it is up to them but at the end of it I get my £20,000.
"I believe they are still trying to do it."
His company R. M. Barnett Ltd, of Huddersfield, was involved in the building of the half finished Shay east stand.
10.15am
The meeting has now begun, reports Dave Fletcher from the Begbies Traynor offices in Leeds.
Halifax Town general manager Angie Firth, former commercial manager Andrew Pinfield, advisor Chris Yewdall and former chairman Geoff Ralph turned up and it is understood much of the negotiations with creditors may be carried out on the telephone.
Major creditors including Jacamast Ltd and R. M. Barnett Ltd were not present.
Halifax Town manager Chris Wilder was understood to be holding talks with players at the Shay at the same time.
Friday May 9 - 9.00am
Halifax Town officials and creditors are making their way along the M62 to the Leeds offices of administrators Begbies Traynor for the adjourned creditors' meeting.
Proceedings are due to start at 10am with the future of the club in the balance.
The first meeting on Wednesday had to be abandoned when major creditors refused to accept 2.5p in the pound in settlement of debts.
Instead, they demanded a minimum of 10p.
Administrator Rob Sadler now has to persuade potential new owners to increase the offer which would take their total outlay for taking control of the club to around £800,000.
Without an agreement, the club will fail to gain membership of the Blue Square Premier League for the 2008/09 season, and could face liquidation.
Keep up to date with the day's developments right here.