The former ownership of NBA franchise Atlanta Hawks LLC, Atlanta Hawks Basketball and Entertainment (AHBE) LLC, is suing New Hampshire Insurance Company for breaching a contract involving Danny Ferry’s settlement. Ferry was the former general manager of the Atlanta Hawks. The lawsuit includes Bruce Levenson, a controlling partner at AHBE. However, the suit does not involve Tony Ressler and the present ownership of the NBA team. See, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.
Levenson and AHBE have sued AIG in a civil action suit for insurance bad faith and breach of contract. Under its insurance policy, AHBE has claimed that it was fully covered against losses arising from employment practices including workplace torts and wrongful termination. AHBE and Ferry agreed on a buyout agreement in June 2015 consequently ending a six-year contract worth $18 million signed in 2012. Two days later, Atlanta Hawks LLC changed ownership.
However, AIG refused to honor the claim and admit that the policy was triggered. Despite the insurance company’s obligation to pay, it declined to honor the policy in bad faith. The suit seeks a 50 percent penalty on top of any attorney’s costs and unpaid losses.
American businessman, Bruce Levenson, is a founding partner at United Communications Group (UCG), and the former co-owner of the Atlanta Hawks LLC. Levenson co-founded UCG in 1977 with his long-term business partner Ed Peskowitz. Before UCG, Levenson wrote for the Observer Publishing and Washington Star. He is also a director at TechTarget, Inc.
According to Time Magazine, Bruce Levenson was born in Washington, D.C. to Jewish parents and was raised in Chevy Chase, Maryland. Levenson attended Washington University for his undergraduate studies before attending law school at the American University. While in law school, Levenson worked as a journalist for the Washington Star. He is an active philanthropic who supports causes like the SEED Foundation, Jewish Federation, and Birthright Israel.