The Atlanta Hawks Basketball and Entertainment LLC sues AIG for Breach of Contract

A New Hampshire Insurance Company is at loggerheads with one of its clients after the said clients filed a lawsuit against the company for breaching a contract between them. The insurance company also described as AIG, was found to be at fault by its clients, the Atlanta Hawks Basketball and Entertainment LLC (AHBE). The fault concerned a claims settlement made by AHBE’s former general manager Danny Ferry. The former Hawks ownership group, which included Bruce Levenson, filed the lawsuit in the Superior Court of Fulton County. Through a spokesperson, the current ownership of the Atlanta Hawks Organization claim to be aware of the suit and to have played no role in it. It goes further to add that the principal parties in the suit have no ties with the current ownership.

According to Time.com, the AHBE felt that AIG breached a contract between them when it failed to acknowledge that it had received a claim notification from them and refused to accept coverage or involve itself in defense of the said claims. This is despite it having an obligation to pay the claim as bounded by an insurance policy taken by AHBE through them and a claim notification issued to them by AHBE that triggered the policy. According to AHBE, it had insured itself through AIG against losses incurred from employment practices. The policy included, but was not limited to, workplace torts and specific acts of wrongful termination. Court documents also show that AHBE had given notice to AIG on the claims asserted by Ferry and it was of the opinion that they were covered. The amount that AHBE is seeking in the lawsuit is confidential. The lawsuit is also seeking compensation for attorney fees and costs plus a penalty of fifty percent for the unpaid losses.

Mr. Bruce Levenson is a shrewd businessperson and philanthropist. Other than being a co-owner of the Atlanta Hawks LLC, he is a co-founder of United Communications Group. Mr. Bruce has also had the opportunity to serve on the NBA board of governors and the board of directors of Tech Target. He has three sons and is a law graduate.Read more about Mr. Bruce Levenson on brucelevenson.com.

Related: http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.