Family First senator Bob Day says he may see out his parliamentary term if an investor can "revive" his housing group.
But Senator Day also said in a statement today if there was no positive outcome to the liquidation of Home Australia, his resignation would proceed and he would devote himself to assisting those affected by the closure.
The South Australian senator said he would attend the parliamentary sitting starting on November 7 to support bills to allow a same-sex marriage plebiscite and reinstate the building industry watchdog, as well as "fix" the backpacker tax.
Senator Day appointed McGrathNicol on October 17 to take charge of the Home Australia group, which has left more than 200 people with incomplete homes and many trade contractors and other creditors unpaid.
On the same day, he declared he intended to resign as a senator for South Australia to devote his time to helping home owners and contractors.
He said an investor had expressed interest in reviving the group and had been in regular contact with McGrathNicol. Other offers had also been received.
"If new investment revives the company, if houses are being completed and trade contractors and others are being paid, then I may continue as a senator," he said.
"If not, my resignation will proceed and I will devote myself to assisting those affected by the group's closure."
Creditor meetings have been scheduled for November 3 and 4.
Senator Day said he was "deeply sorry" for the anguish the situation is causing many people.
"I am doing all I can to assist."
Labor and the Greens have called for Senator Day's immediate resignation, but the government says he is entitled to make his own decisions.