Without seeing the area, it is difficult to give you advice. However, you can anchor the studs above "baseboard" so it does not interfere with the system. You can apply a removable, snap-in/snap-out baseboard to cover the gap from the floor.Johnsonite makes these removable baseboards. The product is named rePLACE. This would allow you to remove the baseboard if needed.

I am doing a finished basement that has a perimeter drain (see photo). I cannot find the suggested Johnsonite product. To clarify, I want to put a stud wall along the edge of the perimeter drain. Do I put 2-inch rigid foam on the cinder block wall (it would be over the drain), and then add the stud wall to meet the rigid foam? Walls are painted with drylock; no water problems in basement with sump working in heavy rain. I need advice on best method. Thanks for any suggestions.

do a moisture test 1ST before anything else

itsreallyconcrete.com

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Thanks for the "itsreallyconcrete" link. The site has much useful information and links to sites with solutions to basement remodeling especially waterproofing. None deal with an open interior perimeter drain solution. However, since there is only a little standing water in the drain near the sump pump pit, and nothing worse than this in 20 years, I can probably get away with leaving it as is, then do insulated stud walls next to the drain on the 2 sides of my basement where I plan to put a home theater room. Another idea is a plastic cover over the drain and vapor barrier on the walls plus 2 inch rigid foam; but I'd rather not drill into the blocks. A moisture check is also a good idea.