FORMER HAWKS MANAGEMENT SUES AIG OVER FERRY SETTLEMENT

The former Atlanta Hawks Basketball and Entertainment LLC (AHBE) controlling partner Bruce Levenson has sued the New Hampshire insurance company for breach of contract that involved the resolution of claims by former general manager Danny Ferry. Fortunately enough, the new Hawks management led by principal owner Tony Ressler is excluded in the lawsuit.

The case at Fulton County Superior Court is a civil action for breach of contract. The AHBE claim says it was insured under a policy for coverage for some losses linked to employment practices, comprising, but not limited to, some actions of “wrongful termination” and “workplace torts.”

Ferry and Hawks reached an unknown buyout agreement on 22 June 2015 that ended their six-year relationship that begun with an $18 million contract in 2012 and approval of the sale of the franchise to Ressler came two days later. The current Hawks ownership distanced themselves from the lawsuit, claiming the parties involved no longer have ties to Atlanta Hawks Organization.

The lawsuit states that AIG refused to acknowledge the claims made and the policy triggered. It further says that AIG declined to defend the said claim or accept coverage in the discussions between ferry and hawks counsel. Failure to pay losses involved in the settlement constituted a breach of contract according to the Time.

Also, the lawsuit seeks 50 percent penalty for attorney’s fees and costs as well as the unpaid losses.

Who Is Bruce Levenson?

Bruce Levenson is an American businessman and a former NBA owner and a philanthropist. According to ESPN, he co-owned Atlanta Hawks LLC, which owns and operates the Phillips Arena and Atlanta Hawks basketball team.

Levenson served on the NBA board of governors as the Hawks governor since 2004. In 1977 he co-founded United Communications Group. He was also the founding board member for the publicly traded TechTarget, which is an IT industry media company.

Levenson was born in on October 1, 1949 in Washington DC; he grew up in Chevy Chase, Maryland. He attended Washington University in St. Louis and later graduated from law school at American University. He then began his journalism career at the Washington Star. Levenson is married to Karen and have three sons.

Source: https://en.wikipedia.org/wiki/Bruce_Levenson