On September 2016, the Atlanta Hawks Basketball and Entertainment (ABHE) filed a lawsuit against New Hampshire Insurance Company for breaching its contract of the settlement of claims put forward by the former manager Danny Ferry. The former owners of ABHE included partner Bruce Levenson. However, the lawsuit was not intended to involve the reigning ownership headed by Forbes billionaire Tony Ressler.
AHBE proclaimed that it had been insured under some policy that protected them from losses emerging staff related practices, including, but not limited to specific acts of ‘wrongful termination’ and ‘workplace torts.’ For this reason, the case was a civil one for contract breach and insurance bad faith. Ferry made an unrevealed buyout agreement on June 22, 2015, to end his six-year relationship with the ABHE. After which the authorization of the sale of the group to the Ressler group was released two days later.
The court documents revealed that AIG had refused to acknowledge that ABHE had made a claim and also declined admission that the policy had been activated. Therefore, AIG failed and refused to settle the covered losses without giving any explanation and in bad faith. Additionally, the lawsuit was also pursuing an extra 50% penalty of the unpaid loss as well as the lawyer’s fees and costs.
About Bruce Levenson
Bruce Levenson is an entrepreneur, philanthropist, and a former owner of an NBA team. He graduated with a Bachelor of Arts degree from Washington University and also has a Juris Doctor from American University. He began his profession as a journalist for the Washington Star while still in law school.
Bruce Levenson co-owned the Atlanta Hawks with Ed Peskowitz which he purchased in 2004. The two were the partners with the majority shares; however, Levenson decided to sell his shares in 2014. Additionally, Bruce also co-founded United Communications Group (UCG) in 1997. Other than that Mr Levenson has also worked as a Director at TechTarget, an IT media corporation. Bruce is also involved in charitable ventures and is the President of the “I Have a Dream Foundation” based in Washington, which undertakes many kind deeds. https://www.benzinga.com/news/17/03/9165680/university-of-marylands-non-profit-initiative-is-changing-higher-education