Former NBA Owner Levenson Hits Insurance Company with Lawsuit

Atlanta Hawks Basketball and Entertainment LLC, the group that once was the owner of the Atlanta Hawks NBA franchise, has had enough of a certain insurance company’s issues.

The former ownership group took action and decided to file a lawsuit against the New Hampshire Insurance Company after the latter had a breach of contract that involved settling some claims that were made by Danny Ferry, who was once a general manager of the group. In a recent ESPN report, the lawsuit made by the former group that owned the Hawks included Bruce Levenson, who himself was once a controlling partner but made no mention of those who currently own the Hawks.

The lawsuit itself was filed to the Superior Court of Fulton County back in September was done so as a civil action, for a breach of contract and bad faith on insurance. In the lawsuit, the claim is that Atlanta Hawks Basketball and Entertainment (AHBE) was insured to be under a policy for coverage related to specific losses related to employment such as “wrongful termination.” Court documents say that AHBE gave notice to the insurance company, also known as an AIG, that claims were made by Ferry and that he was under the impression that they were covered. However, it goes further and suggests that AIG did not pay any covered losses in good faith despite the contractual obligation.

Regarding those involved, there is Bruce Levenson, who was once the co-owner of the group that owned the Hawks. Levenson was born in Washington, D.C. and raised in Chevy Chase, Maryland. Before having co-ownership of the Hawks he co-founded the United Communications Group (UCG) which specialized in analyzing data for healthcare, energy and finances. Levenson purchased Atlanta Spirit LLC in 2004 along with Ed Peskowitz but sold his share (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) of the group in 2014.

http://www.ajc.com/sports/basketball/former-hawks-ownership-sues-insurance-company-over-ferry-settlement/ZM3cMU2m7pID3gLMPGuVQI/

For more info, go to brucelevenson.com.