Recently, a lawsuit has been filed by the Atlanta Hawks Basketball and Entertainment LLC against New Hampshire Insurance Company for breach of contract. This contract involves the settlement of claims made by Danny Ferry, the former general manager.
The AHBE, the former ownership group, includes Bruce Levenson, the controlling partner. This lawsuit does not involve any of the current ownership group members or associates. In April 2015 as reported by Forbes.com, Bruce Levenson, alongside AHBE, sold the Atlanta Hawks to Tony Ressler, co-founder of Ares Management LP. Tony Ressler won the bid with $730 million.
The lawsuit against the insurance company also known as AIG, is a civil action. AHBE claims that had an insurance policy for that covered certain losses related to practices like wrongful termination. They claim that AHBE gave AIG notice of certain claims that should have been covered.
The lawsuit states that these claims meet the terms of the policy and that AIG refused to acknowledge the claims and enact AHBE’s policy. The breach of contract occurred when AIG refused to pay covered losses in settlements.
AHBE is not only suing for their rightful claim to covered losses, but is also looking for an extra 50 percent penalty of the fees and costs associated with those unpaid claims.
Bruce Levenson, former controlling partner of the AHBE, is the co-founder of United Communications Group. He founded UCG in 1977. Prior to his work at UCG, he wrote for Observer Publishing and the Washington Star. He is the director of TechTarget, Inc. and has also served on the board of directors of the Newsletter and Electronic Publishers Association.
Bruce Levenson graduated from Washington University with a Bachelor’s degree in Art. He is formerly the President of the “I Have a Dream Foundation” and is involved in many other philanthropic actions.