The Atlanta Hawks Basketball and Entertainment LLC (AHBE) has sued the New Hampshire Insurance Company. The lawsuit is based on claims that the insurance company had breached the contract involving the settlement claims made by Danny Ferry, the former general manager of the AHBE. AHBE is the former owner of the NBA franchise, Atlanta Hawks. In addition, the former ownership group included Bruce Levenson, who was the controlling partner.
According to the lawsuit, the group claims that the company covered it against certain losses such as wrongful termination and workplace torts. On April 2, 2015, the group notified the insurance company that claims made by Danny Ferry had been insured. According to corporation, Ferry and AHBE reached a buyout agreement on June 22, 1015.
AHBE claims that the insurance company has failed to acknowledge the allegation and holds that the policy was not triggered. Additionally, AHBE says that AIG has continuously refused to participate in the defense or acceptance of the claims. The lawsuit wants the insurance company to pay for the losses covered.
According to James J. Leonard of Barnes & Thornburg LLP, the complaint is self-explanatory. The lawyer is heading a team from the law firm to represent AHBE in the case. AHBE has also demanded a 50 percent penalty on AIG. This penalty will be charged based on the unpaid losses, costs, and attorney fees.
About Bruce Levenson
Bruce Levenson is a famous American businessman, investor, and philanthropist. He is the chairman of UCG and a former owner of the Atlanta Hawks. Bruce sat on the NBA Board of Governors between 2004 and 2015. Bruce is one the board members of TechTarget. The executive is affiliated with different organizations that engage in philanthropic activities, including I Have a Dream Foundation, the Hoop Dreams Foundation, Community Foundation of Washington, and Seeds of Peace, also see: https://www.benzinga.com/news/17/03/9165680/university-of-marylands-non-profit-initiative-is-changing-higher-education. He is married to Karen. The couple own two homes in Atlanta and Potomac, Maryland.