The former owner group of the Atlanta Hawks Basketball team has filed an official lawsuit against their former insurance company, New Hampshire Insurance Company. Per the lawsuit, Hampshire Insurance Company breached the contract surrounding a settlement surrounding claims by Danny Ferry, the former general manager.
The lawsuit filed on September 13th outlines breach of contract and insurance bad faith. According to Ferry, certain coverage were to be contained in the policy, and it was later determined that they were not even mentioned in the documents.
According to many resources, the Hawks basketball team filed an insurance claim with AIG and the claim was never paid out. Until further research was done, the reason for this was unknown.
The exact amount of the civil claim is confidential and a non-disclosure has been signed by all parties to ensure that the information surrounding the lawsuit is not disclosed. This ensures there is no damage done to either party, and neither company suffers significant damages after the civil suit is complete.
Even though it has not been officially announced, there is an extremely high chance that Bruce Levenson and his partners will win the lawsuit. Open information about the lawsuit states that AIG will not participate, or stand openly in their own defense. AIG also refuses to admit that a claim was made on the policy, even though the Levenson has copies of the paperwork related to the claim.
Who is Bruce Levenson?
Bruce Levenson is a native of Washington D.C. He is a graduate of Washington University, and received his law degree from American University. He is extremely familiar with the media, and media attention, since he paid his way through college as a journalist for the Washington Star.
A Forbes billionaire, Bruce Levenson is the former co-owner of the Atlanta Hawks basketball team. He also served as the team governor on the NBA board. He is also the co-founder of the United Communications Group, which was founded in 1977.
Levenson has also spent a great deal of time in other business ventures. He was one of the members who founded the Board of Directors for the publicly traded TechTarget, a massive technology based media company.