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EMERALD INVESTORS TRUST v. GAUNT PARSIPPANY PARTNERS

Nos. 05-3706, 05-4134.

492 F.3d 192 (2007)

EMERALD INVESTORS TRUST v. GAUNT PARSIPPANY PARTNERS; 119 Cherry Hill Associates, L.L.C.; 99 Cherry Hill Associates, L.P.; Horseheads Commercial Development Partners, L.P.; Reckson Operating Partnership, L.P.; John Does 1 Through 10. Gaunt Parsippany Partners; 119 Cherry Hill Associates, L.L.C.; 99 Cherry Hill Associates, L.P.; Horseheads Commercial Development Partners, L.P.; Reckson Operating Partnership, L.P., Appellants in No. 05-3706. Emerald Investors Trust, Appellant in No. 05-4134 v. Gaunt Parsippany Partners; 119 Cherry Hill Associates, L.L.C.; 99 Cherry Hill Associates L.P.; Horseheads Commercial Development Partners, L.P.; Reckson Operating Partnership, L.P.; John Does 1 Through 10.

United States Court of Appeals, Third Circuit.

Filed: June 13, 2007.

Attorney(s) appearing for the Case

W. James Cousins (argued), McGowan & Cousins, Litchfield, CT, Attorneys for Appellants in No. 05-3706 and Appellees in No. 05-4134.

Kenneth L. Leiby, Jr. (argued), Richard J. Shackleton, Shackleton & Hazeltine, Millburn, NJ, Attorneys for Appellant in No. 05-4134 and Appellee in No. 05-3706.

Before: SLOVITER, CHAGARES, and GREENBERG, Circuit Judges.

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...

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