A consortium spearheaded by Bruce Levenson has filed a lawsuit against the insurance firm AIG. The Atlanta Hawks Basketball and Entertainment LLC has completed court filings on September 13 in Fulton County Supreme Court last year. AIG is under fire from the former Atlanta Hawks ownership group for not living up to its policy coverage. Documents from court show that AIG is being sued for failing to fulfill its duty as an insurance provider for the team owners and bad faith of insurance coverage.
The lawsuit began when former general manger Danny Ferry was fired from his post. This abrupt departure according to Forbes.com was then followed by the sale of the Atlanta Hawks by the Atlanta Hawks Basketball and Entertainment LLC to a new ownership group that was led by businessman Tony Ressler. Danny Ferry had a multi million dollar contract for several years with the ownership group that had to be bought out before the group could make the sale to the new owners as part of the deal.
The Atlanta Hawks Basketball and Entertainment LLC. believe that the hasty firing of Danny Ferry and the subsequent buyout of his contract constitutes unfair employment termination and should be covered under workplace laws. Notice to AIG on the firing of Danny Ferry and a follow up claim was made in April. No response was ever heard from AIG and no money was ever paid to the Atlanta Hawks Basketball and Entertainment LLC as compensation.
Bruce Levenson, who was the major stake holder in the Atlanta Hawks Basketball and Entertainment LLC helped build the hawks into a competitive basketball franchise under his tenure as Hawks owner. Mr. Levenson is a successful businessman who co-founded an information company called United Communications Group. Bruce also served as a board member of Tech Target, which is a company that had been spun out of UCG (http://www.ucg.com/AboutUs/Ownership.aspx). Bruce is also known for being a major donor to charities such as Seeds Of Peace and I Have A Dream Foundation.