Atlanta Hawks Basketball and Entertainment (AHBE), LLC, is the former ownership group of the NBA franchise, of which Bruce Levenson was the controlling partner They have filed a lawsuit against New Hampshire Insurance Company over the settlement reached with former Atlanta Hawks General Manager Danny Ferry, for which the ownership group alleges the insurance company acted in breach of contract and bad faith.
AHBE says in the lawsuit that the policy insured them against certain losses related to employment practices. This included “Wrongful Termination” and “Workplace Torts”. AHBE says that they had filed a claim with the insurance company on April 2nd, 2015 because Ferry had made claims against AHBE that they contended were true. AHBE and Ferry reached a buyout agreement on June 22, 2015, which ended their relationship. AHBE sold the team to another group just two days later.
The lawsuit filed by AHBE alleges that New Hampshire Insurance Company has refused to agree that a claim was even made and refuses to allow that the insurance policy has been triggered. AHBE also claims that the insurance company refused to participate in their defense against Ferry’s allegations when the opposing side’s lawyers were holding talks. in a report by ESPN, they claim breach of contract for refusing to pay under what the former ownership group says is a covered loss.
Levenson made the decision to sell the team in October 2014. When the team was sold at auction his group was paid $850 million for it. His group had bought the Atlanta Hawks as part of a $270 million package deal along with the NHL’s Atlanta Thrasers and arena rights.
Bruce Levenson is the co-Founder and Partner at United Communications Group (UCG). UCG was founded in 1977 and is an information provider for other businesses. Before starting the company Levenson had been a journalist at the Washington Star. To read more about Bruce Levenson, visit prnewswire.com.