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NEXA Lending settles with former co-founder Mat Grella, Kortas gets 100%
The settlement, finalized Monday after mediation, ends lawsuits tied to a planned $24 million Arizona hangar and office purchase, while a separate dispute with former employee Kristine Wake continues.
NEXA Lending CEO Mike Kortas says the company reached a global settlement with former co-founder Mat Grella, resolving all related lawsuits filed in Arizona and Michigan. HousingWire reports the agreement was reached in mediation and finalized on Monday, clearing what Kortas described as years of litigation over ownership and control of NEXA and several related entities.
Kortas said the deal gives him 100% ownership of NEXA and severs remaining ownership ties between Grella and the brokerage. The settlement also calls for dismissal of all claims between the parties, including disputes that followed Grella’s termination from NEXA in 2024, HousingWire reported.
One dispute referenced by Kortas involved NEXA’s allegation that Grella improperly interfered with the company’s planned $24 million Arizona hangar and office purchase. HousingWire reports a Maricopa County judge later dismissed that complaint without prejudice, allowing NEXA to amend its claims.
Kortas said Grella will receive an undisclosed cash payment and a single asset under the settlement, with the settlement amount not disclosed due to confidentiality tied to the mediation process. HousingWire adds that while all lawsuits between the two founders are resolved, a separate dispute with former employee Kristine Wake continues.