Bruce Levenson Takes Insurance Fight To Court

January 5th, 2017

2015 saw the sale of one of the most historic NBA franchises in basketball when Bruce Levenson‘s Atlanta Hawks Basketball and Entertainment LLC consortium sold the team to the billionaire technology expert Tony Ressler for a reported $730 million. Most NBA fans would think the details of the deal would bring to a close the ownership of the franchise for Bruce Levenson and his business partners; however, Levenson’s group has been forced to continue their business links because of an unpaid insurance claim the consortium believe should have been paid over the mutual termination of the contract of former Hawks general manager Danny Ferry.

Bruce Levenson presided over one of the most amazing rises from the bottom of the NBA standings to the number one seed in the Eastern conference during his time at the Atlanta Hawks. For Bruce Levenson the growth of community and philanthropic links at the franchise were just as important as the success seen on the court; the founder of the UCG company was an active member of the NBA community as a member of the Board of Governors and sat on the board of many different charitable groups in Atlanta, Washington D.C., and Maryland.

The legal team of Bruce Levenson have not released a large amount of detail of the case for breach of contract they are bringing against insurance company AIG, however, they have revealed they are fighting for a full settlement over the termination of the Danny ferry’s contract and a 50 percent penalty to be imposed on the insurance giant. Papers filed with a Fulton County Court reveal the former owners of the Hawks made contact with AIG as early as April 2015 as they felt Danny Ferry’s actions could be described as constructive dismissal; a claim AIG have refused to discuss or respond to for over a year.

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