Port Vale are being sued by shirt sponsor Harlequin Property over the repayment of a £125,000 loan.
Harlequin agreed the loan with former chairman Bill Bratt to assist "cash flow and purchase players for the team".
Harlequin state that the loan would become repayable with interest if control of the club's board changed.
Mr Bratt resigned in October with Perry Deakin and Peter Miller appointed to the board.
Harlequin owe Port Vale £51,000 as part of the sponsorship agreement and has deducted the sum from its claim.
Vale director Mr Deakin, said: "This is a loan that the former chairman took out quite a while ago and we're in the process of trying to clarify exactly what the terms were.
"We're in dialogue with Harlequin. I fully expect the matter to be resolved within 14 days.
"It will be resolved amiably, without question."