Commissioners postponed a closed door meeting on the defunct Redpine company. Redpine's owner claimed the company could create more than 400 jobs for Bay County.
On Tuesday, Newschannel 7 learned the owner is now filing for personal bankruptcy.
Shad Wheeler has filed for chapter 7 bankruptcy protection from his creditors. Wheeler was the owner of Redpine Services that was given economic incentives to move the company from Spokane, Washington to Bay County.
Those incentives from the state and the county totaled more than $700,000. When the company shut down in 2011, the 400 jobs they promised were never created and the money gone.
The reason Wheeler says the company wasn't successful was because a key backer pulled out from the deal. The county and the state are still suing wheeler to recover the $750,000.
In the bankruptcy documents, Wheeler's assets are estimated to be from $100,000 to $500,000.
His liabilities are estimated to be from $1,000,000 to $10,000,000.
Also in the documents, Wheeler now lists he is a product manager at "What I Like", Inc, in Wenatchee, Washington.
Newschannel 7 did ask county officials if Wheeler's lawyer had withdrawn from the case, but they didn't want to comment.