After Ferry Awarded Settlement Former Hawks Owner Sues AIG

After Danny Ferry, the Atlanta Hawks team’s former General Manager, won a settlement in his wrongful termination lawsuit against the Team, the AIG insurance company defaulted on payment. Bruce Levenson launched a lawsuit against AIG, because they were supposed to cover such eventualities. The amount awarded to Ferry has never been disclosed. The AIG lawsuit states that AHBE’s claim of responsibility by the insurance company was never acknowledged or even considered the original claim. Levenson pointed out that this was a clear breach of contract.

Levenson is the head of the AHBE – Atlanta Hawks Basketball and Entertainment LLC. According to ESPN, court ordered the settlement with Ferry in 2015, to be paid by the former owners of the Hawks, the AHBE. This occurred about a month after AHBE sold the professional basketball team to the Ressler group. None of these proceedings involved the current team’s owners or management. Levenson is the majority owner of the AHBE business investment group. This civil action is being done for AIG’s bad faith and the insurance company’s breach of contract.

Although Bruce Levenson came from the publishing world, he became interested in the business of pro sports teams. That is how he came to become interested in the Atlanta Hawks. After buying the Hawks, Levenson turned to another local hockey team: the Atlanta Thrashers, the team he bought, along with their entire home venue of the Phillips Arena.

Bruce Levenson is from Chevy Chase, Maryland, from a very big Jewish American family. He has shown himself to be a philanthropist (http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html) with the will and means to help many in the U.S. He helps support the many memorials and the Holocaust Museum in New York City. His own wife’s mother barely survived the atrocities of the Nazi Holocaust and the death camps. He has also supported many other charities. Read more about Mr. Levenson on the brucelevenson website.

 

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