The former owners of the Atlanta Hawks Basketball and Entertainment LLC, (AHBE) have filed a lawsuit against their former insurance company “New Hampshire Insurance Company” claiming breach of contract surrounding the settlement claims that were made by the former general manger, Danny Ferry.
The current owners of the Atlanta Hawks are not involved with the lawsuit in any way.
The lawsuit was filed on September 13 in the Superior Court of Fulton County. The insurance company was also described as AIG. The suit is a civil action claiming breach of contract and insurance bad faith. According to AHBE, their documentation shows they were insured under specific coverage, including “wrongful termination” and “workplace torts.”
On April 2, 2015, AHBE gave AIG notice that a claim had been brought by Ferry. At that time, AHBE believed they were covered and all correspondence with AIG left them under the assumption that they would be covered if the claim did go through.
Ferry and AHBE reached a buyout agreement of an undisclosed amount in June of 2015, which ended their six-year relationship and $18 Million contract. According tom Forbes.com, the sale approval was official just two days later.
The lawsuit specifically states that AIG refuses to acknowledge that a claim was made, and even refuses to acknowledge that the claim had been triggered at all. It also states that AIG refused to participate in AHBE’s defense or even accept coverage when discussions were going on between AHBE owners and Ferry’s counsel.
Bruce Levenson began his career as a journalist. This prompted Levenson for a career in business. Along with his partner Ed Peskowitz, Levenson founded the United Communications Group, where he’s served as Partner for 20 years. He graduated from the American University with a law degree. Upon graduation, he worked for the Washington Star. Through hard work and dedication, he holds the title of former co-owner of the Atlanta Hawks LLC. While he was co-owner, he served as the team’s governor.