Wayne Clark, representing Electric Group, told the BBC he expected the judge to make a decision in the new year “given the complexity of the issues”.
Electric Group boss Dominic Madden has taken The Leadmill to court because he wants to run the site as a music venue himself under a new name.
Leadmill Ltd claim he could be breaching the law and cannot afford repair works that are needed.
Since it opened in 1980, the venue has hosted performances from acts including Coldplay, Oasis, Arctic Monkeys and The Stone Roses.
Bookings are listed on its website until November 2025, with a spokesperson previously telling the BBC it was business as usual while its future was decided.
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