Nexedge Markets Ltd v Trex Global Ltd [2025] EWHC 3425 (Comm) (19 December 2025)

Nexedge Markets Ltd v Trex Global Ltd [2025] EWHC 3425 (Comm) (19 December 2025)

Summary judgment is granted because the defendant has no real prospect of successfully defending the claim for repayment of the loans; the loans were advanced and not repaid, the agreements are governed by English law, and the defences based on Mauritian law, conflict of interest, or alleged breaches of duty are speculative, unpleaded, or irrelevant. Foreign insolvency proceedings do not preclude judgment under the Gibbs rule, and there is no basis for a stay. Costs are summarily assessed with reductions for proportionality.

Citation
[2025] EWHC 3425 (Comm)
Parties
Claimant: Nexedge Markets Limited; Defendant: Trex Global Limited
Jurisdiction
England and Wales
Judgment Date
19 December 2025
Procedural Posture
Commercial Summary Judgment Application / Summary Judgment Ruling
Outcome
Summary judgment granted for the claimant.
Legal Topics
Summary Judgment, Loan Agreements, Foreign Insolvency Proceedings, Jurisdiction, Enforcement of Debts, Costs Assessment
Commercial Law Insolvency Law Conflict of Laws Summary Judgment Loan Agreements Foreign Insolvency Proceedings Jurisdiction Enforcement of Debts +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 10 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Nexedge Markets Limited

Claimant

Trex Global Limited

Defendant

Procedural Posture

Commercial Summary Judgment Application / Summary Judgment Ruling

Legal Issues

  1. 1 Whether summary judgment should be granted for repayment of two loans totalling US$1.5 million
  2. 2 Whether Mauritian insolvency proceedings or law preclude continuation or enforcement of the claim in England
  3. 3 Whether there is any real prospect of the defendant defending the claim based on alleged breaches of fiduciary duty, conflict of interest, or Mauritian law

Ratio Decidendi

Summary judgment is granted because the defendant has no real prospect of successfully defending the claim for repayment of the loans; the loans were advanced and not repaid, the agreements are governed by English law, and the defences based on Mauritian law, conflict of interest, or alleged breaches of duty are speculative, unpleaded, or irrelevant. Foreign insolvency proceedings do not preclude judgment under the Gibbs rule, and there is no basis for a stay. Costs are summarily assessed with reductions for proportionality.

Court Disposition

Summary judgment granted for the claimant.

Orders

  • Defendant to pay US$1,500,000 to the claimant.
  • Defendant to pay costs summarily assessed at 75% of £345,109.32 (i.e., £258,832) within 14 days.