A judge considered Barnes’ case at a hearing in a specialist court in London which the star did not attend.
Judge Catherine Burton was told by an official from HM Revenue & Customs (HMRC) that Barnes owed £238,000.
The judge made no orders and said the case would be reconsidered on 29 November.
Barrister Nathan Webb, who represented Barnes, told the judge his client “just” needed time to pay and asked for an adjournment.
He said Barnes was employed by Liverpool FC “on a salary of £200,000”.
“Mr Barnes is very well and able to pay,” Mr Webb told Judge Burton.
“He just requires a bit of time.”
A previous judge had dismissed another bankruptcy petition lodged by tax officials against Barnes in June.
HMRC officials had indicated during that earlier litigation that Barnes had owed at least £200,000.
They had told a judge that money owed had been paid.
Barnes, 59, also played for Watford and Newcastle.
He won 79 England caps between 1983 and 1995 and was head coach at Celtic after ending his playing career.
Judge Burton oversaw the hearing in the Insolvency & Companies Court.
