The contract of former Atlanta Hawks General manager Danny Ferry may have been mutually terminated in June 2015, but by September 2016 an insurance claim made with AIG over the termination was still being fought over. Attorney’s acting for Bruce Levenson have now filed papers in a Fulton County Court in a bid to bring the insurance case to a close and are arguing the insurance company have acted in bad faith and have breached their contract with the Atlanta Hawks Basketball & Entertainment LLC.
The current Hawks ownership have stated they have no involvement in the court case as the insurance policy was held by Levenson’s former ownership group, and any financial payout will be made to the Atlanta Hawks Basketball & Entertainment LLC group headed by Bruce Levenson. Bruce Levenson’s attorneys are seeking a financial settlement from the court in Fulton County and a penalty levied against AIG that could reach 50 percent of any financial award from the court; Levenson and his fellow consortium members have stated the insurance giant has so far refused to acknowledge the claim as being made despite agreeing clauses had been triggered during negotiations taking place in April 2015.
Upon entering the NBA as the controlling partner in the Atlanta Hawks NBA franchise, Forbes billionaire Bruce Levenson oversaw one of the biggest turnarounds in the history of basketball; Levenson took the franchise from the bottom of the NBA standings to the number one seed position in little more than a decade. During his time at the Hawks Levenson made it his mission to make sure the team not only performed well on the court, but that they also played a major role in the local community; UCG founder Bruce Levenson himself served as an NBA Governor, and was a patron for both the Hoop Dreams and Make A Wish foundations.