Lenders are trying to require Sho Dozono, a popular Portland business executive and one-time Portland mayoral candidate, into bankruptcy by claiming he owes them more than half a million dollars.
Dozono has actually long been a fixture in Portland. He ran for mayor in 2008, eventually losing to Sam Adams.
Dozono verified he owes $567,715 to Ronald Sloy of Federal Method, Washington, Richard Dillon of Vancouver, Washington, and Terry Newsom of Beaverton. The trio on Tuesday afternoon filed what is understoodreferred to as a Chapter 7 uncontrolled bankruptcy petition versus Dozono in US Bankruptcy Court in Portland.
I desiredwished to work something out with these guys, Dozono stated when reached on the phone Tuesday night. They jumped the weaponbeat the gun and filed this in bankruptcy court. I do not dispute that I owe the cashthe cash.
Dozono stated hes the victim of a changing economy. His former business, Azumano Travel, was crippled in the financial crisis of 2008 when it lost its prized client, Wells Fargo Bank. That was $80 million in company, Dozono said.
Dozono offeredsold the business side of Azumano in November 2012 to CI Travel of Norfolk, Virginia.
Dozono, 71, said he obtained the cash intending to restore the retail side of his travel firm. It didnt exercise, and he eventually sold that part of Azumano to CI too.
Individual loan providers are not Dozonos just financial issue. The IRS has submitted a number of tax liens versus him, claiming he owes more than $200,000 in back taxes.
Dozono figures his overall financial obligations most likely approach $1 million. I don’t have the figures in my head, he said. Its considerable.
Brent Summers, the Portland lawyer representing the trio of creditors, decreased to comment.
– Jeff Manning
email@example.com!.?.! 503-294-7606 @jeffmanningOre