The Atlanta Hawks Basketball team former owners have filed a lawsuit against their previous insurer, New Hampshire Insurance Company. The lawsuit has been issued to the insurance company for failing to settle claims that were done by former general manager Danny Ferry. The present day owners of the basketball team have not been included in the lawsuit. However, one of the plaintiffs listed in the lawsuit is Bruce Levenson.
The ESPN reported lawsuit dated September 13, 2016, was filed against the insurance company with legal claims for breach of contract and insurance bad faith. The former Hawks owners claim the team was covered against certain losses related to employment practices such as acts of wrongful termination or demotion.
The current Hawks owners acknowledged that they were aware of the complaint, but the people involved in the issue no longer had any involvements with them. The owner of Ferry and Hawks had ended their six-year-long relationship on June 22, 2015, two days before approval of the company sale. See, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.
The lawsuit states that some of the claims by Ferry not only triggered the policy of the insurance company but also were within the policy cover. It further states that the insurance company has deliberately not paid the losses without any significant reasons and in bad faith.
Levenson alongside Ed Peskowitz and other businessmen formed a group (Atlanta Hawks LLC) which owned the Atlanta Hawks basketball team and the Philips Arena. He alongside the other businesspeople secured the basketball team, NHL’s Atlanta Thrashers, and the Philips Arena in 2004. Levenson sold the ice hockey team to a Canadian based ownership group for $170 million in 2011. PR News describes Bruce Levenson as a well-known philanthropist and has been involved in organizations such as the I have a Dream Foundation and the Jewish Federation.