What has happened with the former Atlanta Hawks Basketball and Entertainment group and their lawsuit for breach of contract against AIG Insurance Company over a breach of contract? In a report by ESPN, claims were made by a former general manager of the Hawks Danny Ferry and controlling partner Bruce Levenson, who in 2015 hired Goldman Sachs and Inner Circle Sports to sell the Atlanta Hawks team. The current lawsuit does not include current principal owner Tony Ressler, who bought the team from Levenson for a cool $730 million.
The present lawsuit, which was filed September 13 in Fulton County Superior Court, is a civil action for breach of contract and bad faith insurance. In the lawsuit, the Atlanta Hawks group makes claims that bad employment practices such as wrongful termination and torts are to blame for losses to the company. They gave notice to the insurance company in April of last year because of Ferry’s claims that he believed were covered but was not.
What the claim demands in a financial settlement is not being revealed. According to the suit, AIG, the insurance company, has not acknowledged that a claim was made and that the party further refuses to participate in any defense against the claim.
A buyout agreement though reached in June 2015, still did not prevent the lawsuit from being filed. The Atlanta Hawks current ownership has no comment on the matter because those parties involved in the suit no longer have ties to the team or franchise.
Levenson is a partner at United Communications Group (UGC). He is also owner of Atlanta Spirit. He co-founded UCG in 1977 with Ed Peskowitz; previously, Levenson wrote for both Observer Publishing and the Washington Star. Since early 2015, Levenson has been a director for TechTarget and TechTarget.com.In Washington, Levenson was also president of the I Have a Dream Foundation and has been involved throughout his career in philanthropy. Read: http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html.
Source: brucelevenson website