AIG Ignores Claim Made By Former Ownership Of The Atlanta Hawks

Altanta Hawks Basketball and Entertainment LLC, the former management of the Altanta Hawks, filed a civil lawsuit on September 13, 2016, against insurance company AIG. The former ownership group, led by Bruce Levenson, claims that AIG ignored their claims made on April 2, 2015. These claims included losses based on certain employment practices that they claim should have been covered under their policy at the Time the team was managed by Danny Ferry. The amount of the claim has not been disclosed.

The current team ownership, led by Tony Ressler, is not involved in the lawsuit as Levenson sold the team in June of 2015. However, they are aware of the impending lawsuit.

Bruce Levenson is an American businessman as defined by Wikipedia who bought the Atlanta Hawks in 2004 (http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks) and hired Danny Ferry in 2012 to manage the team. Levenson started his career in journalism working for the Washington Star. He then co-founded United Communications Group in 1977, which is a business information company for various industries.

Bruce Levenson is involved in many philanthropic pursuits. He funded The Center for Philanthropy and Nonprofit Leadership at the University of Maryland. The center teaches students how to devote their lives to the non-profit sector. Levenson also enjoys activities such as basketball, golf, skiing, and traveling. He has a wife and three sons.

 

The Insurance Claim and Lawsuit Bruce Levenson Initiated Draws Attention

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.

Source: https://en.wikipedia.org/wiki/Bruce_Levenson