After five months in administration, creditors will meet at Tynecastle Stadium on Friday 22 November to try and thrash out a deal over the club's £28m of debt can be agreed.
A positive outcome would give fans groups' hopes of a takeover fresh impetus and Locke is keeping his fingers crossed.
He said: "Not just being the manager but being a fan myself, I'm just hoping that everything goes to plan.
"It would be great if everything can be accepted and we can move forward.
"It's been a very difficult period of time for us all and we're all just wanting the same outcome.
"It's going to be a sleepless night tonight and hopefully things will work out in our favour on Friday."
Meanwhile, Locke has conceded he would be open to a change of venue for the Scottish League Cup semi-final against Inverness next February.
Caley fans are up in arms over the decision to play the game at Easter Road with a 12.15 kick-off on a Sunday - and are petitioning to get the kick-off time changed.
Locke said: "It wouldn't bother me, the main thing is that Hearts are in the semi-final.
"I will accept whatever happens but at the moment we are delighted it is at Easter Road because it is not that far away for our supporters.
"I can sympathise with them, because one of the main reasons there is a problem is that they can't get transport down to the game for the kick-off, so obviously I feel for them.
"It is a problem Inverness have got, I hope they can get a resolution to it."