The Atlanta Hawks Basketball and Entertainment (AHBE) LLC recently initiated a comprehensive legal battle involving the New Hampshire Insurance Company. The center of attention in the dispute is Danny Ferry, a former NBA player who managed the Hawks for several years. Of course, the lawsuit that has been filed by the AHBE also involves Bruce Levenson, who was the previous owner of the team.
The AHBE claims that the New Hampshire Insurance Company is guilty of breaching a contract. Additionally, this insurance agency is also accused of ignoring various claims that have been filed by the AHBE. The official lawsuit documents that have been filed in the Superior Court of Fulton County also mention the insurance giant AIG. Most likely, AIG is affiliated with the New Hampshire Insurance Company.
In June 2015, the Atlanta Hawks and Danny Ferry settled on a deal that essentially terminated a previous agreement between the two parties. In 2012, Ferry signed a multi-year contract that was valued at approximately $18 million. However, such a lucrative deal abruptly came to an end when the Hawks were acquired by Tony Ressler. See, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.
Since the lawsuit is pending, the current ownership of the Hawks is not too eager to comment on the issue. According to Time.com, it might take a while for the AHBE to get all of the compensation it requests from AIG and its affiliates. The former owners of the Hawks truly believe that they deserve to get plenty of money for violations of contracts and other legal technicalities that will have to be settled in court.
Bruce Levenson is perhaps best known for his role as the former co-owner of the Atlanta Hawks. However, he is also a savvy businessman who has thrived in the IT world and other sectors. Additionally, Levenson is a truly generous person who believes in philanthropy. In fact, he’s been one of the biggest donors to the U.S. Holocaust Museum in the nation’s capital. Read more about him on brucelevenson.com.