Former Owners of Hawks Basketball Team Files a Legal Action against Insurance Company for Breach of Contract

Led by Bruce Levenson, the Atlanta Hawks Basketball and Entertainment LLC (the previous group that owned Hawks basketball team) has taken legal action against the New Hampshire-based Insurance Company (AIG) for failing to settle claims brought forward by Danny Ferry, the former general manager. The current ownership group of Hawk is not associated with the lawsuit. The previous Hawks ownership team (AHBE) claims that the Insurance Company had insured it against losses associated with employment practices ranging from workplace torts to wrongful termination. On April 2, 2015, AHBE provided notice to AIG stating that Ferry had filed claims that it believed were covered under the insurance policy.

On June 22, 2015, Ferry and his team agreed to sell Hawks to Ressler-led group marking an end to the $18 million contract that started six years ago. The sale was officially approved two days later. The current Hawks ownership’s spokesperson said that his team is aware of the claim made by the former ownership group. However, the spokesperson declined to provide any further comments. Read full article on forbes.com.

Bruce Levenson

Bruce Levenson is a prominent American businessperson and globally recognized philanthropist. He was one of the co-owners of Atlanta Hawks LLC (previously known as Atlanta Spirit LLC) that owns and oversees the daily affairs of Atlanta Hawks basketball team as well as the Philips Arena. The American University graduate co-established United Communications Group (UCG), a leading business information firm that offers data, news, and thorough analysis of mortgage banking, healthcare, technology, and telecommunications.

Charity work

Levinson has awarded generous financial aids and philanthropic support to organizations like the Hoop Dreams Foundation and Washington, DC-headquartered Community Foundation. He was part of the top management team of I Have a Dream Foundation, a charitable entity that helps low-income kids to attain higher education. He is an avid supporter of art and preservation of history. Levenson has supported efforts of the U.S. Holocaust Museum to train inner city students as instructors at the museum.

 

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