Entertainment LLC Files a Case for Breach of Contract
According to the Atlanta Journal-Constitution filed on Wednesday, September 14, 2016, the Atlanta Hawks Basketball and Entertainment LLC filed a lawsuit against New Hampshire Insurance Firm. It filed the lawsuit against the insurance firm for breach of contract following the settlement of claims raised by Danny Ferry, the former general manager. The initial Hawks ownership group (AHBE) comprised of monitoring partner Bruce Levenson, although the current lawsuit does not include the Hawks ownership team chaired by principal owner Tony Ressler.
In a report by ESPN, the case was filed in the High Court of Fulton on September 13 against the insurance firm (AIG), and it involved a civil action for breach of contract. According to AHBE, the breach was insured under a policy linked to employment practices. The policy comprised of individual acts of unfair termination and work-related torts. Unlike the filed suit, the court documents show that AHBE summoned the AIG on 2nd April 2015 with assertion claims from Ferry.
On June 22, 2015, Ferry and Hawks settled on an undisclosed buyout agreement, which ended their relationship. The two were in a contract for six years, which had commenced with an $18 million. The sale approval of the enterprise to the Ressler team went through after two days. The Hawks representative released a statement stating their knowledge of the complaint, as the two officials were no longer involved with Atlanta Hawks Company. The company did not comment further on the case. According to court files, the claim is confidential, and the lawsuit indicates that the limits of confidentiality have a liability to the AHBE claims. According to the lawsuit, AIG is stubborn on acknowledging these claims. AIG refused to be associated with the defense of the claims.
About Bruce Levenson
Bruce Levenson is a successful entrepreneur who was hired by bankers to sell the Atlanta Hawks. Bruce hired Goldman Sachs to trade Hawks and its working rights to Philips Arena in October. The Forbes magazine ranks Levenson, a top businessman with a good reputation. PR News also reveals that Levenson is an active philanthropist.