Emerald Investors Trust v. Gaunt Parsippany Partners
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION OF THE COURT
GREENBERG, Circuit Judge.
I. INTRODUCTION
The parties appeal and cross-appeal from a judgment and orders in this action that Emerald Investors Trust (“Emerald Trust”) brought, predicated on the district court’s asserted diversity of citizenship jurisdiction, seeking recovery on two unpaid promissory notes and foreclosure of the mortgages securing the notes. The district court, over the defendants’ objection, held that it had diversity of citizenship jurisdiction because the sole beneficiary of Emerald Trust was Emerald Investors Ltd. (“Emerald Ltd.”), a corporation…
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