The administrators at CBF in the administration report, have suggested that they are in negotiations with BFC or a source acting for BFC to settle the debt on the ground.
For a start the application is not in Steve Dales name. He has stated in the Sun and the Express recently that he will step away if necessary. Hopefully he, for once, is true to his word. One thing is for sure, a continuation of Bury FC is certainly preferable to having a new club.
As per FA rules Bury FC would be expected to start much higher up the chain as they are a continuation of the same club, not a phoenix with links to or a complete new club which I suspect the FA will now class Bury AFC as.