Lawsuit Filed Against New Hampshire Insurance Company

Bruce Levenson has been the controlling partner for Hawks ownership group that has sued the New Hampshire Insurance Company.

The Atlanta Hawks Basketball and Entertainment LLC is the former ownership group of this NBA franchise. This Group has filed the lawsuit. It is for breach of contract. This is about the claims settlement that was made earlier. These were by Danny Ferry, the former general manager. Do note that this lawsuit is not involving the present Hawks ownership group which is led by principal owner Tony Ressler.

It was on Sept 13 that this lawsuit was filed in the Superior Court of Fulton County. It is against the insurance company which is also known as AIG today. This case is for civil action due to a breach of contract as well as insurance bad faith. The Atlanta Hawks Basketball and Entertainment LLC claims that the insurance policy covered certain losses that were linked to employment practices. These included certain acts such as “Wrongful Termination”’ as well as “Workplace Torts.” The Atlanta Hawks Basketball and Entertainment LLC had given notice to the Insurance Company on April 2, 2015. Bruce Levenson (brucelevenson.com) said that the claims which had been asserted by Ferry were believed to be covered.

There was a buyout agreement between Ferry and the ownership of Hawks. This was on June 22, 2015. It ended this relationship.

According to PR News, there is speculation that Bruce Levenson hired bankers who were not able to sell this Atlanta Hawks at the right price. They were nearly 27% off about the price that they could have got for this NBA team.

It was in October that Bruce Levenson had hired Goldman Sachs along with Inner Circle Sports. This was for selling the Hawks as well as the operating rights to Philips Arena. This was when Goldman Sachs had convinced Bruce Levenson that the price of the team and operating rights to the arena would fetch $1 billion. http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks