New Hampshire Insurance Company faces impeachment charges filed by the former Atlanta Basketball management team following a breach of contract about settlement made by Danny Ferry. This lawsuit filed affects all former partners of AHBE excluding the new ownership group led by Tony Ressler.
This lawsuit commonly referred to as AIG is a civil action against New Hampshire Insurance Company for failure to honor the terms of the contract. Claims made by AHBE were that the group was insured against employment losses such as “Workplace Torts” and Wrongful Termination.” Based on the documents presented to the court by AHBE, a notice had been issued to AIG indicating that claims were assessed and covered by the policy.
In 2015, Ferry and Hawks agreed to end their contract through a buyout. The current owners of the team are aware of the lawsuit and do not wish to interfere with that matter. The amount to be paid to the complainant is confidential and enough to settle the lawsuit. However, in light of these findings, AIG still refuses to acknowledge the claim. In their defense, AIG claims that Mr. Ferry’s claims were not covered and, hence, they are not obligated to pay.
A closer look at Levenson’s life and contribution
Bruce Levenson is an entrepreneur and former owner of an NBA team called Atlanta Hawks. Levenson attended Washington University and American University. He majored in law and started his career as a journalist with the Washington Star. In 1977, he created United Communications Group (http://www.ucg.com/AboutUs/Ownership.aspx). UCG is a communications company, which focuses on news, analysis of healthcare, telecommunications, energy, and mortgage banking. In 2004, Levenson and his partner, Ed Peskowitz, formed Atlanta Hawks LLC to purchase the NBA team from Turner Broadcasting. Levenson served as the manager of the team until 2014 reveals Forbes.com, when he decided to sell his shares.
Bruce Levenson serves as a board member for Tech Target. He served on other boards such as Board of Directors of the Newsletter and Electronic Publishers Association. He is also a philanthropist and supports Community Foundation of Washington D.C., Hoop Dreams Foundation, and ‘I Have a Dream Foundation.’