The former ownership group of Atlanta Hawks Basketball and Entertainment LLC filed a lawsuit against an insurance company. The New Hampshire Insurance Company breached the contract that involves the settlement of claims that were made by the former general manager of the company, Danny Ferry.
AHBE means the former Hawks ownership group. It includes Bruce Levenson as the controlling partner. The lawsuit involved the AHBE but excluded the current Hawks ownership group, which is led by Tony Ressler, the principal owner.
Ferry and Hawks reached an undisclosed agreement worth $18 million contract in 2012. After two days, the Ressler group got an approval for the sale of Atlanta Hawks Basketball and Entertainment LLC.
In September, AHBE filed a lawsuit in the Superior Court of Fulton County against the insurance company described as AIG. The lawsuit entailed a civil action for bad insurance faith and a breach of contract. AHBE claimed that it was insured under a policy that covered losses related to employment practices was not limited to acts like “Workplace Torts” and “Wrongful Termination.”
Based on the court’s document, the lawsuit cited that the confidential limits of liability and policy were adequate to act on the claims of AHBE. Furthermore, the litigation cited that AIG had refused to acknowledge the activation of the policy.
Based on the lawsuit, AIG had denied paying for the covered losses without justification in bad faith. The representative firm for AHBE cited that the complaint should speak for itself. The lawsuit is seeking an extra 50 percent fine of the unpaid loss and the lawyer’s fees.
Bruce Levenson is the previous owner of Atlanta Hawks LLC, reveals ESPN. He collaborated with Ed Peskowitz to establish United Communication Group (UCG) in 1977. Bruce, according to PR Newswire, has exhibited philanthropic acts to the Hoop Dreams Foundation and Community Foundation of Washington, D.C. Additionally, Bruce has acquired a Bachelor degree in Arts from Washington University and a J.D. from American University.