Philanthropist Bruce Levenson Takes Insurance Claim To Court

December 23, 2016 @ 5:51 am

Forbes.com has posted several news articles following the sale of the Atlanta Hawks NBA franchise in June 2015 the former controlling partner in the Atlanta Hawks Basketball & Entertainment LLC consortium, Bruce Levenson has been eager to push forward his philanthropic career. However, in September 2016 an unpaid insurance claim made by the former owners of the Atlanta Hawks with AIG through a workplace based policy has led the Maryland based business leader to the Superior Court of Fulton County. Levenson and his fellow consortium members will now begin a legal claim for breach of contract against AIG after the insurance company failed to respond to communications about the policy following the mutual termination of the $18 million contract of former Hawks General Manager Danny Ferry.

Bruce Levenson has become an important figure in the philanthropic community from 2015 through to 2016 as his role with the University of Maryland has expanded. Former journalist Levenson began working with the university in 2012 as The Center for Philanthropy and Nonprofit Leadership was created with the aid of the Levenson family; by pledging more than $5 million to the center the work of students from the University of Maryland in nonprofit organizations has reached global levels.

Lawyers acting on behalf of UCG founding chair Bruce Levenson’s consortium have not made public the financial settlement being sought over the breach of contract claim and will look to prove in court the policy was triggered prior to Danny Ferry’s contract being mutually terminated. The contract of Danny Ferry was only signed in 2012 and led to the Hawks climbing to the number one position in the NBA standings; despite the success achieved with Ferry, Bruce Levenson agreed to the termination of the contract just two days before the sale of the Hawks franchise was announced in June 2015 and believes events surrounding the sale of the team triggered the constructive dismissal aspects of the AIG held insurance policy.
Read more: http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks

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