Being sued by business partner for failed venture

[Aresendes]

Need some advice. I and my business partner went in on venture together, he provided the capital for the business. I ran an operated it and made the decisions. Well to make it short, I failed and could not make it work. Now I am being sued for the loss capital. What are my options?I do not have the monies to cover his losses or even a plan on how to get it. Do I have any options at all or am I screwed?

[jjgross]

On what grounds is he suing you on? Businesses fail everyday. That doesn't make the general manager responsible for a lost investment. Maybe he under funded it? I would get a attorney or consult with one. If money is not accounted for that's a different story!