AIG in trouble for breaching its contract with AHBE

AHBE, the group that formerly owned the Atlanta Hawks NBA team before selling it off to Antony Ressler, is suing AIG. According to AHBE, AIG breached some of the terms in its contract in the process of settling claims with Mr. Ferry, the former general manager. Bruce Levenson was a controlling partner in AHBE. Bruce’s team claims that this lawsuit does not, in any way, affect the current management. The spokesman of the current ownership group goes ahead to confirm this.

The amount being claimed by AHBE has not been disclosed. In the lawsuit, the firm representing AHBE claims that what breached the contract is the failure of AIG to pay for the losses that AHBE endured during the settlement with Mr. Ferry. The firm goes on to explain that, AIG hasn’t come up with any clear justification to this. AHBE considers this as bad faith. AIG can’t also claim not to have noticed the contract being breached. This is because the insurance firm was served with a notice by AHBE, notifying them that Mr. Ferry had asserted the claims. It is after this notice that Ferry and the Hawks ownership came to a buyout agreement. http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks

About Bruce Levenson

According to his Wikipedia page, Bruce Levenson, who was among the former owners of Atlanta Spirit, LLC, is a partner at United Communications Group (UGC). He is also a Co-Founder of UGC, a company he helped bring up in 1977. UGC’s other founder is Ed Peskowitz. Before founding UGC, Levenson worked as a writer and publisher for the Washington Star. He was also among the directors that ran Newsletter and Electronic Publishers Association. Levenson’s philanthropic spirit became evident when he headed the “I Have a Dream Foundation”. He has since been associated with other philanthropic works.

Bruce Levenson is a graduate of the Washington University. He holds a Bachelor of Arts degree from the institution. Visit brucelevenson.com for more information.