Category Archives: NBA Franchises

Atlanta Hawks Files Lawsuit against AIG

Atlanta Hawks, LLC recently filed a lawsuit for a breach of contract against New Hampshire Insurance Company (also known as AIG). Atlanta Hawks was sold in 2015 to a group led by billionaire Anthony Ressler for $850million, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/. Its former owners were AHBE group, led by Mr. Bruce Levenson, a successful entrepreneur based in the U.S. Mr. Levenson graduated from Washington University with a Bachelor of Arts degree and soon afterwards began his journalism career as a writer at the Washington Star. He later worked with Observer Publishing as a writer.

Mr. Bruce Levenson co-founded United Communications Group (UCG) with Mr. Ed Peskowitz in 1977. He is still a partner at the company. He joined the board of directors at Tech Target, Inc. in February 2015. His appointment was due to his expertise in the business field and his excellent leadership skills. He has also served on the board of directors of the Newsletter and Electronic Publishers Association. Bruce Levenson is also an acclaimed philanthropist, reveals PR News. He served as the president of the ‘I Have a Dream Foundation’, Washington chapter.

The claims against AIG

The lawsuit, which was filed in September 2016, was for failure on AIG’s part to pay Atlanta Hawks for covered losses. Accordion to ESPN‘s report, it involves AHBE and not the current Atlanta Hawks ownership. AHBE claims that it had taken out a policy which covered them against certain losses. Atlanta Hawks’ former general manager, Danny Ferry, made the claims in 2015. Court documents reveal that some of the claims made were for losses that were covered under the policy yet AIG has refused to honor its obligation to AHBE with no justification for its failure.The amount of the claim is confidential. The lawsuit is also claiming an additional 50 percent penalty for the unpaid losses and for other inconveniences caused.