CHESTER COLOR SEPARATIONS v. TREFOIL CAPITAL

The parties' debtor-creditor relationship was based upon arm's length transactions, including the mortgaging of real property. Defendants never occupied the kind of position of trust with plaintiffs that would create a fiduciary relationship between them ( see, American Bank Trust Co. v Lichtenstein, 48 A.D.2d 790, 791, affd 39 N.Y.2d 857; Banque Nationale v 1567 Broadway Ownership Assocs., 214 A.D.2d 359). Therefore, the allegations, as pleaded in the complaint, failed to state a cause of action for breach of fiduciary duty.

Concur — Ellerin, J.P., Rubin, Nardelli, Williams and Mazzarelli, JJ.