WWE star Punk is being sued by Cabana after the two fought on the same winning side in a previous defamation lawsuit.
Cabana and Punk have been close friends since they cut their teeth together wrestling in Chicago.
The Best of the World made headlines when he walked out of WWE – only to then try his hand at UFC.
Punk sensationally quit the world’s biggest wrestling company citing creative frustration and health concerns.
His pal claims Punk agreed to help him out with legal bills after they fought together.
“Brooks acted with fraud, malice and oppression toward Colton”
Cabana – real name Scott Colton – is suing Punk – real name Phil Brooks – for breach of contract and fraud in Cook County Circuit Court.
He alleges the five-time world champion failed to keep his promise that was made in a text message.
The 38-year-old claims the star text him saying legal bills will be “100% covered”.
Cabana has been left with legal bills of $513,736 – and is also axes for $1.2 million in damages.
The lawsuit said: “Brooks acted with fraud, malice and oppression toward Colton, with the deliberate intention of causing Colton harm.”
Cabana is asking for $200,000 in general damages, along with $1 million in punitive and exemplary damages, reports the Chicago Sun Times.
Punk told Cabana “you are on your own”, according to the lawsuit.
The duo made headlines in 2014 when Punk appeared on Cabana’s Art of Wrestling podcast and laid into WWE.
Cabana and Punk addressed the latter’s issues with the company and his shock exit after the Royal Rumble.
The 39-year-old revealed he had stormed out after a meeting with Triple H and Vince McMahon.
Punk – the longest reigning WWE Champion of the modern era – claimed he had suffered a misdiagnosed staph infection and was wrestling with a concussion.
WWE’s ringside physician Dr Chris Amann in turn sued Punk and Cabana.
Punk and Cabana won the lawsuit two months ago – but are now locked in their new legal fight.
Now fighting in the UFC, Punk has lost both of his MMA fights against Mickey Gall and Mike Jackson.
Punk appears to ruled out ever returning wrestling, despite his name still regularly being chanted by fans at WWE shows.
He was known for his sharp-tongued, antiestablishment persona which saw him become one of the most popular stars in WWE.