Joseph F. O’TOOLE & Marjorie C. O’Toole, Plaintiffs, Appellants, v. ARLINGTON TRUST COMPANY, Defendant, Appellee

COFFIN, Chief Judge.

Appellants, Joseph O’Toole and his wife Marjorie O’Toole, appeal the district court’s dismissal of the case for lack of either a question of federal law or diversity jurisdiction.

Appellants are officers of three nursing homes in Massachusetts and trustees of the pension funds established for the employees of each. These funds were deposited with appellee, Arlington Trust Co., which had also extended various loans, guaranteed by appellants, to the three nursing homes. When appellee learned that the three corporations were in severe financial difficulty, it used the pension…