Pompey are set to battle with Balram Chainrai's Portpin for Fratton Park in December.
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Administrator Trevor Birch, who picked the Trust as preferred bidder for the club, approved a sale agreement based on a reasonable purchase for the club's famous ground.
The Trust have submitted a £2.75million bid for Fratton Park, against Portpin's £18million charge.
At a recent press conference, prospective Pompey chairman Iain McInnes said: "It's Fratton Park or bust.
"We have spoken with a number of clubs, local and further afield, but have decided that it's either our ground, or liquidation.
"There's no grey area".
Trust chairman Ashley Brown added: "It is a relief to know we will have some certainty sooner rather than later.
"Our understanding is the matter will be resolved at this hearing as there is unlikely to be any grounds for any appeal.
"If all goes according to plan, and our legal advisors say we have a strong case, we will take control of Portsmouth FC shortly afterwards and the process of rebuilding our club can begin."
Should the High Court approve the Trust's bid for the stadium, the Trust could be in charge by the start of 2013.
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The Pompey Supporters' Trust is still seeking pledges from Pompey fans to back their bid. Information can be found here