Q: My partner made a bad decision on behalf of our business and
now I'm being told I'm personally on the hook for it - is there any way out of this?
A: Maybe, much more information would be needed to determine what your liability is. I suggest you start with a consultation with an experienced lawyer.
A: Depends on your structure. Were you formed as an GP, LP or LLP. If you were a general partner, then yes you may be on the hook. Get in touch with a Lawyer who knows business law. They will be able to look over your structure and governing documents to determine what your exposure is or isn't.
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