On September 13, 2016, the Atlanta Hawks Basketball and Entertainment LLC (AHBE) took the New Hampshire Insurance Company, also referred to as AIG, to court for breach of contract and insurance offenses. AHBE, the previous owners of Atlanta Hawks, claimed that the insurance company failed to honor the payment of claims that had been made by their former general manager, Danny Ferry. Bruce Levenson, executive partner of AHBE, was actively involved in the lawsuit.
The Refusal by AIG Was Deliberate
According to Bruce Levenson and his colleagues, their company was insured by AIG against, among other things, losses emanating from Workplace Torts and Wrongful Termination. They further claimed that AIG deliberately refused to acknowledge the validity of Ferry’s claims, even when it was clear that the claims fell within the terms of the insurance policy. In the complaint, which was filed in the Superior Court of Fulton, AHBE issued the court with documents showing that indeed Danny had made the said claims in April 2015 and others showing the policy terms under which the company had been insured. AHBE was represented in the case by Barnes & Thornburg LLP law firm.
How It All Started
AHBE had obtained the ownership of Atlanta Hawks in 2012 under a contract deal worth $18 million, and that was supposed to run until 2018. On June 22, 2015, however, Danny Ferry led AHBE in striking a deal with Tony Ressler, the current principal of Atlanta Hawk, for the transfer of ownership of the NBA team. The amount paid to AHBE and the terms of payment were not disclosed, although the lawsuit showed that AHBE had accrued some unpaid losses. Ressler, however, distanced himself from the lawsuit saying that no ties existed between Atlanta Hawks and the former owners.
About Bruce Levenson
Bruce Levenson is a businessman, writer, and philanthropist. He is a controlling partner of AHBE, the Atlanta Hawks’ former owners. Washington University and American University are his alma mater. More information on his charity works can be found on prnewswire.com.
Check out his personal website at brucelevenson.com.