The previous ownership of the NBA franchise, the Atlanta Hawks Basketball, and Entertainment LLC has filed a suit against New Hampshire Insurance Company. The lawsuit stated that the insurance company breached a contract involving the payment of claims that were made by Danny Ferry their former general manager.
Bruce Levenson was one of the people in former Hawks ownership group (AHBE) which is currently led by Forbes billionaire Tony Ressler serving as the principal. The said lawsuit does not involve the currents Hawks ownership group.
The lawsuit was filed on 13th September in the Superior Court of Fulton County, described as AIG, and it is a civil action for breach of contract as well as insurance bad faith. AHBE says that they were insured under a policy that covered certain employment-related losses that include, but not limited to, specific acts of Workplace Torts and Wrongful Termination. The court documents showed that AHBE had a given a notice to the AIG on 2nd April 2015 that the claims had been declared by Ferry that it assumed were covered.
The amounts claimed by the lawsuit were confidential, and the undisclosed limits of liability of the policy were sufficient enough to pay AHBE’s claim. The lawsuit also states that AIG has neither acknowledged that claim was made nor the policy has been triggered. They refused to participate in defense of the allegation or accept it coverage. AIG breached the contract by refusing to pay for losses covered without enough jurisdiction, and they do not have any reasonable basis to resist that the claim was not made and went uncovered as well. The suit was also claiming a 50% penalty of the unpaid loss as well as the attorney’s costs.
About Bruce Levenson
Bruce Levenson is a graduate from law school at American University and started his journalism career at the Washington Star. He is an entrepreneur and a former Governor of the board of governors at NBA. He was also a co-founder of Atlanta Hawks LLC which is a group that owns and controls the Phillips Arena as well as the Hawks basketball team. The business mogul is a co-founder of United Communications Group and TechTarget as well.