The former owners of Atlanta Hawks Basketball and Entertainment LLC have sued New Hampshire Insurance Company. The group sued the company because of breach of contract. The contract violation involves the settlement of claims which were cited by Danny Ferry, the former general manager.
With Bruce Levenson, is the controlling partner, the former Hawks Ownership Group filed the lawsuit in the Superior Court of Fulton County. It was filed on September 12 against the insurance company. The case is a civil action for breaching of contract and also insurance of bad faith. The current group which owns Hawks is not included in the suit.
The claims of AHBE are that it was insured under coverage policy for certain losses that are related to employment practices. There is court document which shows that AHBE gave notice to AIG on April 2, 2015. The reports say that there were claims that were asserted by Ferry that it believed were covered.
According to forbes.com, it was on June 22, 2015, when Hawks and Ferry reached an agreement. The buyout was undisclosed, and they ended their relationship. The relationship had begun with a contract of six years which was worth $18 million. Two days later, approval for the sale of the franchise to the Ressler Group came. The spokesperson of the current Hawks ownership said that they were aware of the complaint but stated that they would not comment on the matter anymore.
Bruce Levenson was one of the founders of UCG and owners of the Atlanta Hawks LLC, which was formerly Atlanta Spirit LLC. He was born to a family of Jews in Washington and grew up in Chevy Chase, Maryland. He went to Washington University and later began a career in journalism in Washington Star. Today he is an American Businessman and a philanthropist helping many organizations. https://www.benzinga.com/news/17/03/9165680/university-of-marylands-non-profit-initiative-is-changing-higher-educationPosted by hiphopShawn on .