Fans' group the Pompey Supporters Trust want to take over the club but their bid hinges on administrators PKF gaining permission to sell Fratton Park, which is controlled by former Portsmouth owner Balram Chainrai.
The initial hearing was postponed last month to allow further discussions to take place between PKF and Chainrai's company Portpin.
And the PST have warned fans not to expect a definitive outcome just yet.
In a statement on their website, the PST said: "PKF and Portpin will report to the judge on the progress of their discussions and if an agreement has not been reached, then the court will allocate time to a hearing, if the two parties have not reached agreement.
"If not then a new date will be sought. How soon it will be will depend on a number of things; availability of both sides' barristers and their staff, availability of a judge and of course, availability of a court room.
"The Trust remains confident that their bid is good and that their valuation of Fratton Park is fair. Hopefully (January) 15 will be another step closer to the community ownership of Portsmouth FC."
Portsmouth have been in administration since last February and face a 10-point deduction if and when they exit.
They are currently in the relegation zone in League One, have not won any of their last 14 matches and have this week let five players, including captain Brian Howard, leave the club at the end of their short-term contracts.