Bruce Levenson is a man of many trades. Most commonly recognized as a former owner of the Atlanta Hawks basketball team, Mr. Bruce Levenson’s career is impressive. He used to write for the Washington Star and Observer Publishing. Bruce Levenson also co-founded United Communications Group with Ed Peskowitz. He’s even the Director at TechTarget.com.
According to ESPN, what is possibly one of the saddest outcomes for Atlanta Hawks fans in 2015, the former ownership group became locked in a legal struggle with their former insurance company. Late 2015, the former owners, referred to as AHBE, filed a lawsuit against the New Hampshire Insurance Company for breach of contract.
The lawsuit accused the insurance company, also referred to as AIG, of breach of contract and insurance bad faith. Earlier that year, AHBE met with AIG former general manager, Danny Ferry, to discuss their coverage buyout. It has been proven that the two came to an agreement for an undisclosed amount.
According to AHBE, their insurance policy covered them for certain losses pertaining to employment practices. These practices could involve, but were not limited to, “wrongful termination” and “workplace torts.” AHBE had to file the lawsuit on September 13, due to AIG’s refusal to pay out.
AIG’s attitude towards these events was inexcusable. Danny Ferry had already reached an agreement with AHBE, and AIG was just refusing to pay out. They refuse to acknowledge AHBE’s claim, and they refused to acknowledge that a policy had been triggered. Even worse, AIG offered no explanation for their actions or their refusal to participate in the defense of the claims.
All evidence that’s been provided to the court proves that AIG is obligated to pay and acknowledge Mr. Ferry’s claims of a triggered policy. Visit brucelevenson.com for more info.
Article Information Source: https://en.wikipedia.org/wiki/Bruce_Levenson
The 2015 sale of the Atlanta Hawks NBA franchise by a consortium headed by Bruce Levenson to Forbes listed billionaire technology expert Tony Ressler appeared to pass off without incident; that is, until recently filed court papers filed in Fulton County revealed the former ownership group of the Atlanta Hawks Basketball & Entertainment consortium is still awaiting a resolution to an insurance policy claim made with AIG. Levenson’s group made an insurance claim in the days before their June 2015 sale of the Hawks was announced over the mutual termination of the $12 million six year contract of former Hawks General Manager Danny Ferry.
A review of the court papers revealed Bruce Levenson’s group began negotiating over a constructive dismissal claim over the unpublished financial settlement they came to over Danny Ferry’s mutual termination as early as April 2015 with AIG. Despite AIG reportedly agreeing to the claim and beginning negotiations over a financial settlement because of the actions undertaken by Ferry in the buildup to the sale of the Hawks franchise no contact has been reported from the insurance giant since Levenson sold the iconic basketball team. UCG founder Bruce Levenson and his fellow former Hawks owners are suing AIG for breach of contract and bad insurance faith as they hope to recoup a portion of the financial settlement they came to with Ferry in 2015.
After spending more than a decade in charge of the Hawks franchise, Bruce Levenson has not taken an easy route to retirement after completing the sale of the NBA team; instead, he has embarked on a range of philanthropic enterprises that have included acting as the co-chair of a Kennedy Center for the Arts ball in aid of the Anti-Defamation League. Alongside wife Karen, Bruce Levenson has become a major supporter of causes including the Jewish Youth Philanthropy Institute and the Seeds of Peace group.