Former giants Deportivo La Coruna are the latest Spanish club to file for bankruptcy protection.
The Galicians, who are struggling in 19th place in La Liga, are 99m euros in debt and have sought protection from their creditors.
President Augusto Lendoiro said: "This makes me sad and ashamed, but there was no other option. 85% and 90% of the debt is with the government and banks.
"This is a different stage, but I see myself with the strength to continue," Lendoiro added. "The club is viable. I would give high marks to my management of these 25 years at Deportivo. I expect to stay here day to day."
The club have entered 'Ley Concursal protection' - a decision which all bar nine current top flight sides (Barcelona, Real Madrid, Athletic Bilbao, Osasuna, Atletico Madrid, Valencia, Getafe, Sevilla and Espanyol) have taken at some stage.
MacDonald was released from his contract at the Milton Keynes club by mutual consent to set up the move to Orient.
The 31-year-old spent 18 months at stadium:mk having joined from Brentford in August 2011 and scored 11 goals in 45 appearances for the Dons.
He has netted twice this season for the Dons in 24 appearances, the majority of which have come as a substitute.
