An once publicly-traded company has decided to file for Chapter 7 bankruptcy as 2010 draws to an end. Millenium Holding Group Inc. of Henderson, run by Richard L. Ham and wife Carla Aufdenkamp Ham filed for the total liquidation Chapter 7 bankruptcy this past Tuesday. They have listed zero assets against the 7.4 million they owe in liabilities. These include funds owed to investors, settlements and lawsuit judgments.

Ham and his wife are also listed as having been denied back wages and deferred compensation from 1999 to 2010 for an amount of more than $3 million.

When the company was listed publicly it went under the stock symbol FYNRE as a real estate development venture; it was also listed as FYNMOR, a mortgage banking venture.  Millenium filed back in 2006 with the Securities and Exchange Commission as having taken in very little revenue but accumulated $10.1 million in losses through 2005. It was at that time that Millenium had attempted to create an Internet bank and insurance company with a focus on real estate and mortgage banking.

If you are thinking about filing for Chapter 7, contact our law firm to get advice from a Houston bankruptcy attorney.