NEXA Lending and Mat Grella Settle All Legal Disputes

NEXA Lending CEO Mike Kortas announced on Monday that a global settlement has been reached with former business partner Mat Grella, officially ending a multi-year legal battle concerning the ownership and control of NEXA Lending and associated entities. The agreement, finalized through mediation, resolves all lawsuits filed between the two co-founders, as confirmed by Kortas in an interview with HousingWire. Court documents indicate that a lawsuit initiated in 2024 between the parties has now been closed.

The litigation stemmed from Grella's termination from NEXA in 2024. One significant dispute involved a lawsuit where NEXA accused Grella of improperly interfering with the company's planned acquisition of an Arizona hangar and office space valued at $24 million. A judge in Maricopa County had previously dismissed this complaint without prejudice, citing insufficient allegations but permitting NEXA to revise its claims.

Under the terms of the settlement, Grella will receive an undisclosed cash payment and a single asset from Kortas. In exchange, both parties have agreed to dismiss all outstanding claims against each other. This includes disputes related to insurance and mortgage ventures across various jurisdictions, which Kortas characterized as "skirmishes in the Great War for NEXA."

Kortas expressed satisfaction with the resolution, though he declined to reveal the settlement amount due to confidentiality agreements associated with the mediation process. Following the settlement, Kortas now holds 100% ownership of NEXA, and all residual ownership ties between Grella and the company have been severed. Grella, who co-founded NEXA with Kortas in 2017 after departing Equity Prime Mortgage, previously held a 49.5% membership interest in the company.