Bruce Levenson is the former principal member of Atlanta Hawks Basketball and Entertainment. The group owned the Atlanta Hawks of the National Basketball Association before approving the sale of the team to Tony Ressler. Levenson and his business partners faced several challenges in transitioning the ownership of the team to the new management group. The previous owners were seeking a significant price for the basketball organization. There was also internal matters that took attention away from the business that needed to be conducted.
Danny Ferry was the general manager of the team during this period of Time. Ferry was relieved of his duties and accused the team of wrongful termination. The actions of the former general manager forced Levenson and his business partners to get involved with a legal settlement in order to resolve the matter. An agreement was eventually reached and the owners were able to move forward with the process of selling the team.
Levenson entered the legal process with Danny Ferry believing that his expenses were covered by an insurance policy held with AIG. AIG did not participate in any of the negotiations involving the team’s former general manager. The insurance company also did not acknowledge that the insurance policy was triggered by any of the actions related to the process. Levenson decided to sue AIG. He claimed breach of contract and insisted that the insurance company acted in bad faith. Bruce Levenson and AHBE are seeking to recoup money spent on the legal expenses that were exhausted in the difficult case with the former general manager. The payout costs the former ownership group a significant amount.
The lawsuit took place outside of the business dealings of selling the team. Tony Ressler and the new ownership group are not implicated in any of the legal accusations brought by the previous owners. This article can be sourced from Wikipedia.