Bigfoot'S Steakhouse

Our company (CityEventsGuy) LLC embarked on a joint venture with Mr *** for the sole purpose of co-producing a concert featuring *** *** *** ***Mr *** was to provide about 30% of the expenditure and we were to provide the additional 70% in the form of artist performance fee,
venue fee, promotional expenses, artist travel and accommodation, insurance and advertisingWe did spend an amount exceeding $8k.Mr *** was made aware of all expensesHe was shown all receipts, signed artist agreement and the artist in question (*** ***) did send a video (as is protocol) confirming that he was going to be at the concertOn the night of the concert, we were made aware that the artist would not be showing up due to flight delays and an additional police issueWe were made aware of this the same time that Mr *** was made awareAccordingly, the venue was made aware that the main headliner would not be showing up and that the show would be run by co-headlinersAs such, the venue drastically reduced the cover charge (as is protocol) and issued refunds to the concert goers who demanded themThis caused us to acquire a loss in this event of amounts totaling $8k.Mr *** was made aware prior to the event that certain predicaments do befall concerts from time to time and such things may be completely out of our controlWe had no control over the artistWe fulfilled our end of the joint venture and still took a loss as a result of the artist not showing upWe are currently in legal proceedings with the artist and Mr *** is aware of itAs is standard legal practice in any joint venture, losses must be split the same way and in such an even manner as the profits would have been splitHowever, we ended up conceding 80% of the loss which exceeded what would ordinarily have been.We appreciate your willingness to resolve this matter and are ready to provide any additional information neededThank you for your time and we hope this helps