Atlanta Hawks Basketball and Entertainment (AHBE) filed a lawsuit against AIG Insurance. Atlanta Hawks is the holding company of the basketball franchise. Hawks is one of the NBA championships sides. The lawsuit against AIG claims that the insurance company in New Hampshire was liable for breaching contract involving the settlement of claims under the former general manager Danny Ferry.
AHBE group is suing AIG under civil action for breach of insurance contract and insurance on bad faith. The civil action lawsuit was filed in the Superior Court of Fulton County on 13 September. AHBE claim that the insurance policy they undertook with AIG covered losses against employment practices such as workplace torts and wrongful termination.
The court documents reveal that the AHBE group notified AIG insurance on 2 April 2015 that claims had been demanded by Ferry in which AIG was liable. On 22 June the same year, Ferry and the AHBE group reached a buyout agreement, which terminated the initial $18 million contract that had begun in 2012. According to ESPN, the buyout resulted in the sale of the Hawks basketball team two days later to Tony Ressler’s group.
A spokesman of the current Hawks’ ownership acknowledged they were aware of the lawsuit between AHBE group and AIG Insurance. The spokesperson further cleared the air claiming and that the two disagreeing parties no longer had ties to the current Hawks management.
About Bruce Levenson
Bruce was born in Washington DC by Jewish parents. He studied law at American University and is now both a businessman and a philanthropist. During the early years of his career, Bruce co-founded United Communications Group. The company is information conglomerate. Currently, it is a holding company with a diverse shares portfolio across industries. He is the former co-owner of the Atlanta Hawks NBA. He sold the team to Tony Ressler in 2015. Read more on brucelevenson.com.