Bruce Levenson Ferry Settlement Lawsuit

The AHBE (Atlanta Hawks Basketball and Entertainment LLC) is the previous ownership organization of the NBA franchise, and it has filed a lawsuit against an insurance company, New Hampshire Insurance Company. The basis of the lawsuit was a breach of a contract entailing the settlements of claims from Danny Ferry, the former general manager. The AHBE is inclusive of Bruce Levenson, a controlling partner. The lawsuit excludes the Tony Ressler-led group that currently owns Hawks.

The lawsuit was filed on September 13 in the Superior Court of Fulton County, and it is described as a civil action for insurance bad faith and breach of contract. According to AHBE, it was insured under an insurance policy catering for coverage for specific losses that relates to employment practices including certain acts of “Workplace Torts” as well as “Wrongful Termination.” Hawks and Ferry ownership reached a buyout agreement that took place on June 22, 2015, and it was undisclosed. The buyout ended a six-year $8 million contract signed in 2012.

Bruce Levenson is a renowned American businessperson. According to Time Magazine he is a profound philanthropist and the former owner of an NBA team. Bruce was a co-owner of Atlanta Spirit LLC, currently Atlanta Hawks LLC, which owns and controls all operations of the Phillips Arena and Atlanta Hawks basketball team (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/). Previously, Levenson has served on the NBA Board of Governors as the Hawks’ Governor since 2004. In 1977, Bruce Levenson co-founded a communications organization called the United Communications Group (UCG). He was among the founding board members and is currently serving on the Board of Directors of an IT industry media firm, Tech Target, which is publicly traded. Read more on prnewswire.com.