A lawsuit has been filed by the Atlanta Hawks Basketball and Entertainment LLC (AHBE), a group that formerly owned the NBA franchise, against New Hampshire Insurance Company, also referred to as AIG in court documents. The ownership group involved includes Bruce Levenson, a controlling partner.
In addition to being the former owner of the Atlanta Hawks, Bruce Levenson has taken part in many successful business ventures. He is the current owner of Atlanta Spirit, LLC and the co-founder of United Communications Group, a company founded in 1977 together with Ed Peskowitz. Mr. Levenson is known for taking an active role in various charitable endeavors. These include serving as President of the “I have a Dream Foundation” of Washington.
The civil suit alleges insurance bad faith and was filed in the Superior Court of Fulton County on September 13. According to the AHBE, their insurance policy covered certain losses pertaining to employment practices, such as wrongful termination. They allege that claims made by former general manager Danny Ferry were covered under their policy.
According to Forbes, the amount of the claim is confidential. Court documents related to the lawsuit state that AIG is refusing to acknowledge that the policy had been triggered and hasn’t paid the covered loss without providing a valid justification. The lawsuit is seeking payment of the covered loss, plus a 50 percent penalty, as well as attorney’s fees and other legal costs. So far, AIG has not publicly commented on the lawsuit.