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Claiming a breach of contract by New Hampshire Insurance Company (a subsidiary of AIG), a lawsuit has been filed by the former ownership group of the Atlanta Hawks,The Atlanta Hawks Basketball and Entertainment, LLC. (AHBE).
Specifically, the lawsuit by AHBE and it’s controlling partner Bruce Levenson, relates to a settlement by former general manager Danny Ferry after he was released and his contract was bought out in June, 2015, reports Forbes.com.
AHBE filed the lawsuit as a civil action in the Superior Court of Fulton County for “breach of contract and insurance bad faith”.
Asserting that they were covered under an insurance policy that related to certain employment practices and that these conditions had been met through specific claims made by Danny Ferry after his release.That despite the veracity of the claims, AIG has refused to recognize that the policy had been triggered and has “refused to pay the covered loss without significant justification”. The lawsuit also states that not only did the claims fall within coverage determined by the policy, but that the policy was also enough to cover the limits of the liability claim, which remain confidential.
The sale of the Atlanta Hawks by AHBE was facilitated in June, 2015. The current ownership group is aware of the claim but that there are no longer any ties between the organization and the parties involved in the lawsuit and any claims of settlement.
Bruce Levenson is no stranger to the complexities of business. In 1997, he co-founded United Communications Group (UCG) with Ed Peskowitz as an information company specializing in data and news analysis for multiple industries like healthcare, energy, technology and mortgage banking. Bruce is also a founding board member of TechTarget and served as it’s director from 1999 to 2012.
Bruce Levenson is also dedicated to philanthropy by participating in organizations like the Community Foundation of Washington, D.C. and the Hoop Dreams Foundation. In 2010, Bruce and his wife prompted the formation and funding of the Center for Philanthropy and Non-Profit Management at the University of Maryland.