Atlanta Hawks Basketball and Entertainment LLC (AHBE), the former Hawks Management led by Bruce Levenson, are suing New Hampshire Insurance Company over breach of contract. The AHBE civil action lawsuit claims that the insurer (also called AIG) operated in bad faith in a case involving Danny Ferry – the former Hawks general manager.
AHBE claims that it had taken a policy to cover itself against employment practices’ losses that included wrongful termination as well as workplace torts. The claim arose after Ferry, and the former Hawks management reached a buyout agreement in June 2015 to cut short an $18 million, six-year contract signed in 2012.
AHBE filed court documents that prove that it gave AIG prior notice of the buyout agreement in April 2015. AHBE claims that it believed it was covered under its insurance agreement with AIG but the insurer failed to cover the losses incurred. The New Hawks ownership under Forbes billionaire Tony Ressler is not involved in the lawsuit.
American Businessman and entrepreneur, Bruce Levenson, was born in Washington, D.C., to a Jewish family. He was, however, raised in Chevy Chase, Maryland. After high school, Levenson attended Washington University based in St. Louis and later graduated from American University with a law degree. While still in law school, Levenson worked as a journalist for the Washington Star.
In 1977, Levenson and Ed Peskowitz, his business partner, started United Communications Group (UGC – http://www.ucg.com/AboutUs/Ownership.aspx). The company operates as a portfolio of business information companies. Together, the two business partners grew UGC into a premier privately-held group of business information companies with over two million clients globally. Levenson is also a founding shareholder of TechTarget, a founding partner at DOT, and Bruce Levenson is an active philanthropic who supports endeavors like I Have a Dream Foundation, Do Good Challenge, and the Center for Philanthropy and Nonprofit Leadership.