Category Archives: Hawks Ownership

The Atlanta Hawks Basketball and Entertainment LLC sues New Hampshire Insurance Company for breach of contract

Published / by WT23

The Atlanta Hawks Basketball and Entertainment (AHBE) is a former Hawks ownership group, and it has filed a lawsuit against New Hampshire Insurance Company for what they claim to be a breach of contract. This involved the settlement of claims made by the former general manager of the insurance company Danny Ferry. The lawsuit was filed in the Superior Court of Fulton County on 13th September. The lawsuit against the insurance company is a civil action for insurance bad faith and breach of contract. The insurance company also described as AIG was given notice by AHBE on 2nd April 2015 which showed that claims had been asserted by Ferry and AHBE believed that these claims were covered.

Hawks and Ferry ownership had reached an undisclosed buyout agreement on 22nd June 2015, and this ended their relationship that began with an $18 million contract in the year 2012. The current ownership of Hawks says that they are well aware of the complaints but the major parties that are involved are no longer tied in any way to the Atlanta Hawks organization and they would not make any other comment regarding this matter. The amount of the claim is confidential according to the court documents, but the lawsuit has stated that the confidential limits of liability of the policy are enough to pay AHBE’s claims. The lawsuit also says that AIG refused to participate in defense of the said claims or accept coverage during talks with Ferry and Hawks counsel discussions. Apart from these claims, the lawsuit is seeking an additional 50% penalty of attorney’s fees and unpaid loss together with other costs.

Bruce Levenson is the former owner of the Atlanta Hawks. According to him, the reason they sold the company (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) is that the black crowd was too fierce and they scared away the whites. According to Time.com, this led to a shortage of fans to build a significant season ticket base. Bruce is also a Partner and Co-founder at United Communications Group (UGC). He is also the owner of Atlanta Spirit, LLC and since February 2015, he has been the director of TechTarget Inc. Bruce is involved in many philanthropic activities and he is the President of the “I Have a Dream Foundation” of Washington. Read more about Bruce’s philanthropic activities on PR Newswire.com.