Former owner Sam Hammam says current backer Vincent Tan and the club are being sued over nearly £6m owed to creditors Langston.
Cardiff want to know the identity of the corporation before paying £5.75m, which was due on 30 January 2015.
The hearing is expected to consist mainly of legal arguments between the two parties ahead of a possible trial.
Hammam - who owned the club from 2000 to 2006 - has been widely seen as Langston's representative.
However, Cardiff's chairman Mehmet Dalman claims Hammam has denied acting for the company.
'Tan should honour guarantee'
In a statement, the Lebanese businessman puts the onus for the outstanding payment on Tan.
"Court proceedings have been issued against Vincent Tan to pay an amount of £5.75 million plus interest," the statement said.
"This amount is due to be paid by the club and Mr Tan legally and personally guaranteed payment in the event of non-payment by the club.
"This amount is the balance due under the settlement agreement with Langston as unfortunately Mr Tan and the club are now in default with the legally agreed payments.
"Legally the demand is from both the club and Mr Tan, but it is for Mr Tan to honour the guarantee he has given or to use his resources to allow the club to pay its debts."
Sam Hammam owned Wimbledon before joining Cardiff City
Why did Cardiff hold back payment?
Before Hammam's confirmation of the litigation, Dalman explained why they have held back the payment.
"It is bad governance not knowing who is the owner of a debt we are trying to honour," he said.
"Right now I want to know who it is."
The original debt of £24m was in the form of loan notes issued by The Langston Corporation when Hammam was at the helm of the club.
The debt was still in place when Tan took over the club in 2010.
In 2013 Cardiff and Langston announced "an amicable resolution" to the longstanding debt issue.
Hammam became life president of the club as part of the settlement and his representative Michael Filiou also took a seat on the board of directors.
"Michael Filiou represents Langston on the board, but he cannot tell us who he represents," said Dalman.