Bruce Levenson achieved a level of fame in the sports world through his previous ownership of the Atlanta Hawks. The entrepreneur is now making news on ESPN again, but this time due to the publicity surrounding a civil suit. Levenson has initiated litigation against an insurance company in the aftermath of a settlement.
The settlement claim centered on one many by the Hawks’ previous general manager Danny Ferry. The New Hampshire Insurance Company, a company connected to AIG, is being sued for “breach of contract” and “bad faith”. The lawsuit contends that the insurance provider was to cover “losses related to employment practices”. Coming out of the Ferry settlement, Levenson contends “wrongful termination” and “workplace torts” should be covered under the policy. The filing of a lawsuit indicates the insurer and the insured are not on the proverbial same page with the claim.
Leveson, a well-known philanthropist, made a great deal of news when negotiating a sale deal that would transfer ownership of the team to Antony Ressler, a billionaire fund manager. The figures surrounding the sale was in the hundreds of millions of dollars.
UCG founder Bruce Levenson invests a great deal of his time with charitable endeavors. He contributes and raises money for the I Have A Dream Foundation. He probably would prefer to invest more time in pursuits such as these instead of being involved with a lawsuit, but business circumstances dictate taking legal action.
How the lawsuit will eventually play out will be settled in the coming months or years.
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