The former ownership group of the NBA franchise The Atlanta Hawks, The Atlanta Hawks Basketball and Entertainment LLC (AHBE), is suing the New Hampshire Insurance Company for breach of contract concerning a claims settlement made by Danny Ferry, the basketball team’s ex-general manager. Controlling partner Bruce Levenson is also part of the suit. For those unfamiliar with Levenson, fret not.
Levenson is also an American businessman and philanthropist. He was also once the Hawks’ Governor on the NBA Board of Governors. He first held the position in 2004.
Additionally, he co-founded the UCG (United Communications Group in 1977. He was a founding board member. He is currently on the Board of Directors for the publicly traded IT industry media company named TechTarget. See, brucelevenson.com.
The civil lawsuit, filed on September 13 in the Superior Court of Fulton County against the insurance company better known as AIG, concerns “insurance bad faith” and “breach of contract”. AHBE claims their policy covered them for specific losses concerning employment practices, including, such things as “Workplace Torts” and “Wrongful Termination”. Court documents reveal that AHBE notified AIG April 2, 2015 that Ferry thought they were covered.
The AHBE and Ferry reportedly came to a buyout agreement on June 22, 2015. The specific amount was undisclosed and confidential. This lawsuit does note that the confidential limits of liability of the policy are enough to handle the claim made by ABHE.
According to PR News, the lawsuit also says that the insurance company, AIG, would not acknowledge the claim was made. They also would not acknowledge the policy had been initiated. The suit also claims “breach of contract” because AIG did not pay to cover the losses in the buyout settlement. Last but not least, AHBE’s lawsuit is also seeking a penalty of 50 percent of the specific unpaid loss as well as attorney’s costs and fees.