Jefferies & Company, Inc. v. International Assets Holding Corp‪.‬

In these two cases, consolidated for the purpose of this opinion, Orix Capital Markets, LLC (lender), appeals from a final summary judgment in which the lower court ruled that Park Avenue Associates, et al. (borrowers), could recover late charges they paid on the unpaid principal balances of certain promissory notes, concluding that the notes required such charge only on each late monthly installment, and not on the substantial outstanding balances due at maturity. The borrowers separately appeal from the trial courts order denying their motion for costs and attorney fees, which they sought following the entry of summary judgment in their favor, challenging the lower courts determination that they could not be considered the prevailing parties in the litigation. We affirm the summary judgment, and reverse the order denying the motion for costs and fees, and remand the latter case with directions.