The Supreme Court has agreed to expedite a challenge to the power of the Independent Commission Against Corruption (ICAC) by property developer and former Newcastle lord mayor Jeff McCloy.

ICAC is expected to report soon on its Operation Spicer inquiry into alleged breaches of the electoral funding laws.

Mr McCloy is seeking orders to restrain Commissioner Megan Latham from presiding over the inquiry and to stop ICAC from releasing its report on Operation Spicer because of alleged bias.

"A fair minded observer might reasonably apprehend that Commissioner Latham might not bring an impartial and unprejudiced mind to the resolution of the questions and the findings to be made as part of Operation Spicer," Mr McCloy has argued.

The judicial review summons also alleges ICAC had a predetermined objective to make adverse findings against Mr McCloy and others.

The case will be heard on November 16 and 17.

New laws clarifying and in some cases strengthening ICAC's powers are currently before New South Wales Parliament.

In a further complication a High Court decision is pending on an application by Mr McCloy that the NSW electoral funding laws are unconstitutional.

Operation Spicer led 10 Liberal members of the NSW Parliament to resign or move to the cross benches.