Walter C. Keenihan and Leta B. Keenihan v. Heritage Press, Inc., Debtor Ronald G. Oberlag Gail Oberlag

FLOYD R. GIBSON, Senior Circuit Judge.

The Keenihans appeal the district court’s affirmance of the bankruptcy court’s denial of their motion to dismiss. We reverse and remand with instructions to dismiss the debt- or’s bankruptcy petition.

1. BACKGROUND

Heritage Press was established in 1962 by Walter Keenihan and was incorporated under the laws of Arkansas in 1975. Until January 2, 1986, Walter and his wife, Leta, owned a controlling interest in the company and controlled its operation. In late 1985, Ron Ob-erlag, Leta’s nephew, discussed the possibility of transferring control of the company…