diff --git a/src/v1/internal/pool.js b/src/v1/internal/pool.js
index 1a35477b1..9c3ce97a6 100644
--- a/src/v1/internal/pool.js
+++ b/src/v1/internal/pool.js
@@ -17,8 +17,8 @@
  * limitations under the License.
  */
 
-import {promiseOrTimeout} from './util';
 import PoolConfig from './pool-config';
+import {newError} from '../error';
 
 class Pool {
   /**
@@ -65,20 +65,17 @@ class Pool {
       allRequests[key] = [];
     }
 
-    let request;
+    return new Promise((resolve, reject) => {
+      let request;
 
-    return promiseOrTimeout(
-        this._acquisitionTimeout,
-        new Promise(
-          (resolve, reject) => {
-            request = new PendingRequest(resolve);
+      const timeoutId = setTimeout(() => {
+        allRequests[key] = allRequests[key].filter(item => item !== request);
+        reject(newError(`Connection acquisition timed out in ${this._acquisitionTimeout} ms.`));
+      }, this._acquisitionTimeout);
 
-            allRequests[key].push(request);
-          }
-        ), () => {
-          allRequests[key] = allRequests[key].filter(item => item !== request);
-        }
-    );
+      request = new PendingRequest(resolve, timeoutId);
+      allRequests[key].push(request);
+    });
   }
 
   /**
@@ -208,11 +205,13 @@ function resourceReleased(key, activeResourceCounts) {
 
 class PendingRequest {
 
-  constructor(resolve) {
+  constructor(resolve, timeoutId) {
     this._resolve = resolve;
+    this._timeoutId = timeoutId;
   }
 
   resolve(resource) {
+    clearTimeout(this._timeoutId);
     this._resolve(resource);
   }
 
diff --git a/src/v1/internal/util.js b/src/v1/internal/util.js
index 43fca35b6..df8ef88fe 100644
--- a/src/v1/internal/util.js
+++ b/src/v1/internal/util.js
@@ -17,8 +17,6 @@
  * limitations under the License.
  */
 
-import {newError} from '../error';
-
 const ENCRYPTION_ON = "ENCRYPTION_ON";
 const ENCRYPTION_OFF = "ENCRYPTION_OFF";
 
@@ -64,42 +62,11 @@ function isString(str) {
   return Object.prototype.toString.call(str) === '[object String]';
 }
 
-function promiseOrTimeout(timeout, otherPromise, onTimeout) {
-  let resultPromise = null;
-
-  const timeoutPromise = new Promise((resolve, reject) => {
-    const id = setTimeout(() => {
-      if (onTimeout && typeof onTimeout === 'function') {
-        onTimeout();
-      }
-
-      reject(newError(`Operation timed out in ${timeout} ms.`));
-    }, timeout);
-
-    // this "executor" function is executed immediately, even before the Promise constructor returns
-    // thus it's safe to initialize resultPromise variable here, where timeout id variable is accessible
-    resultPromise = otherPromise.then(result => {
-      clearTimeout(id);
-      return result;
-    }).catch(error => {
-      clearTimeout(id);
-      throw error;
-    });
-  });
-
-  if (resultPromise == null) {
-    throw new Error('Result promise not initialized');
-  }
-
-  return Promise.race([resultPromise, timeoutPromise]);
-}
-
 export {
   isEmptyObjectOrNull,
   isString,
   assertString,
   assertCypherStatement,
-  promiseOrTimeout,
   ENCRYPTION_ON,
   ENCRYPTION_OFF
 }
diff --git a/test/internal/pool.test.js b/test/internal/pool.test.js
index d1a26c7d1..832247c09 100644
--- a/test/internal/pool.test.js
+++ b/test/internal/pool.test.js
@@ -419,7 +419,10 @@ describe('Pool', () => {
         done();
       });
 
-      setTimeout(() => r1.close(), 1000);
+      setTimeout(() => {
+        expectNumberOfAcquisitionRequests(pool, key, 1);
+        r1.close();
+      }, 1000);
     });
   });
 
@@ -445,7 +448,7 @@ describe('Pool', () => {
 
       pool.acquire(key).catch(error => {
         expect(error.message).toContain('timed out');
-
+        expectNumberOfAcquisitionRequests(pool, key, 0);
         done();
       });
     });
@@ -472,14 +475,64 @@ describe('Pool', () => {
 
       pool.acquire(key).then(r2 => {
         expect(r2.id).toEqual(2);
-
+        expectNoPendingAcquisitionRequests(pool);
         done();
       });
     });
   });
 
+  it('should work fine when resources released together with acquisition timeout', done => {
+    const acquisitionTimeout = 1000;
+    let counter = 0;
+
+    const key = 'bolt://localhost:7687';
+    const pool = new Pool(
+      (url, release) => new Resource(url, counter++, release),
+      resource => {
+      },
+      () => true,
+      new PoolConfig(2, acquisitionTimeout)
+    );
+
+    pool.acquire(key).then(resource1 => {
+      expect(resource1.id).toEqual(0);
+
+      pool.acquire(key).then(resource2 => {
+        expect(resource2.id).toEqual(1);
+
+        // try to release both resources around the time acquisition fails with timeout
+        // double-release used to cause deletion of acquire requests in the pool and failure of the timeout
+        // such background failure made this test fail, not the existing assertions
+        setTimeout(() => {
+          resource1.close();
+          resource2.close();
+        }, acquisitionTimeout);
+
+        pool.acquire(key).then(someResource => {
+          expect(someResource).toBeDefined();
+          expect(someResource).not.toBeNull();
+          expectNoPendingAcquisitionRequests(pool);
+          done(); // ok, promise got resolved before the timeout
+        }).catch(error => {
+          expect(error).toBeDefined();
+          expect(error).not.toBeNull();
+          expectNoPendingAcquisitionRequests(pool);
+          done(); // also ok, timeout fired before promise got resolved
+        });
+      });
+    });
+  });
+
 });
 
+function expectNoPendingAcquisitionRequests(pool) {
+  expect(pool._acquireRequests).toEqual({});
+}
+
+function expectNumberOfAcquisitionRequests(pool, key, expectedNumber) {
+  expect(pool._acquireRequests[key].length).toEqual(expectedNumber);
+}
+
 class Resource {
 
   constructor(key, id, release) {
diff --git a/test/internal/util.test.js b/test/internal/util.test.js
index 5a9d227c4..9f9a1eb9c 100644
--- a/test/internal/util.test.js
+++ b/test/internal/util.test.js
@@ -74,71 +74,6 @@ describe('util', () => {
     verifyInvalidCypherStatement(console.log);
   });
 
-  it('should time out', () => {
-    expect(() => util.promiseOrTimeout(500, new Promise(), null)).toThrow();
-  });
-
-  it('should not time out', done => {
-    util.promiseOrTimeout(500, Promise.resolve(0), null).then((result) => {
-      expect(result).toEqual(0);
-      done();
-    })
-  });
-
-  it('should call clear action when timed out', done => {
-    let marker = 0;
-
-    let clearAction = () => {
-      marker = 1;
-    };
-
-    util.promiseOrTimeout(500, new Promise((resolve, reject) => { }), clearAction).catch((error) => {
-      expect(marker).toEqual(1);
-      done();
-    });
-  });
-
-  it('should not trigger both promise and timeout', done => {
-    const timeout = 500;
-
-    let timeoutFired = false;
-    let result = null;
-    let error = null;
-
-    const resultPromise = util.promiseOrTimeout(
-      timeout,
-      new Promise(resolve => {
-        setTimeout(() => {
-          resolve(42);
-        }, timeout);
-      }),
-      () => {
-        timeoutFired = true;
-      }
-    );
-
-    resultPromise.then(r => {
-      result = r;
-    }).catch(e => {
-      error = e;
-    });
-
-    setTimeout(() => {
-      if (timeoutFired) {
-        // timeout fired - result should not be set, error should be set
-        expect(result).toBeNull();
-        expect(error).not.toBeNull();
-        expect(error.message).toEqual(`Operation timed out in ${timeout} ms.`);
-        done();
-      } else {
-        // timeout did not fire - result should be set, error should not be set
-        expect(result).toEqual(42);
-        expect(error).toBeNull();
-        done();
-      }
-    }, timeout * 2);
-  });
-
   function verifyValidString(str) {
     expect(util.assertString(str, 'Test string')).toBe(str);
   }