ROCKLAND – A deal for the sale of Sea Dog Brewing Co. – done with just a handshake a year ago – has come unraveled, with the former owner losing nearly a half million dollars and the business filing for bankruptcy protection.

Peter Camplin Sr., who founded the Camden-based Sea Dog with its restaurants in Bangor, Camden and Topsham, and a beer and soft drink brewing and distribution business, filed suit in Knox County Superior Court on Thursday, seeking monetary and punitive damages from the buyer, Joseph Wortley, and his associate, Scott Johnson.

According to court documents, Camplin agreed to sell the business last March to Wortley. The men sealed the deal with a handshake at Camplin’s winter residence in Florida.

Terms of the sale, according to Camplin, were:

. That the stock – which was solely held by Camplin – would be transferred to Wortley.

. Wortley would indemnify Camplin against Camden National Bank, which held a loan on the business.

. Wortley would reimburse Camplin $108,000 that Camplin had recently invested in the business from his personal holdings.

. And Wortley would keep Camplin’s two sons, Peter and Brett, employed in management at the company.

Camplin was not represented by an attorney any time during the sale, according to the suit.

Wortley sought to accelerate the sale, Camplin claimed, and forwarded a document to Camplin that authorized transfer of the stock. Camplin signed the document on April 2, 2000.

Camplin asked Wortley for a document outlining the agreed-upon terms of the sale, the lawsuit claims. Wortley promised the terms would come later.

According to Camplin, Wortley reiterated the terms of the sale orally several times during the spring of last year, but did not provide a written description.

Wortley asked Camplin to terminate an agreement Sea Dog had with Shipyard Brewing Co., which Camplin did. In May, Wortley took over running the company.

In June, Scott Johnson, who Wortley had brought in as a senior manager, demoted one of Camplin’s sons, “and then effectively fired him,” according to the suit.

“During this period of time, Camden National Bank proceeded to foreclose on the company and threatened to proceed against [Camplin’s] personal assets,” the suit states, apparently because Wortley did not indemnify him against the bank’s claims.

Later that year, Camden National Bank seized $472,000 from the sale of Camplin’s house in partial satisfaction of the debt, the suit claims.

On Nov. 1 of last year, Wortley filed for Chapter 11 bankruptcy protection for the Sea Dog.

Camplin, through his attorney, William Robitzek of Lewiston, claims Wortley made “false promises.” Camplin is seeking unspecified pecuniary and punitive damages.

Wortley and Johnson have not responded yet to the suit’s claims.