Why AHBE filed a lawsuit against AIG

Posted on January 11, 2017 By

The New Hampshire Insurance Company (AIG), has a lot on its plate after the former ownership of Atlanta Hawks Basketball (AHBE), filed a lawsuit against it. This is after AIG seemed to have breached some terms of their contract when settling claims with the former general manager, Danny Ferry.

AHBE, which Bruce Levenson was part of, insisted that the lawsuit wasn’t meant to involve the current ownership of the NBA franchise. This claim was backed up by the spokesman of the current ownership.

Apart from breach of contract, AHBE, through their legal representatives, also sued AIG for insurance bad faith. This is because, according to AHBE, AIG did not respond to the claims, even after AHBE issued the insurance company with notice prior to the sale of the franchise to Anthony Ressler. See, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.

In a report by ESPN, apart from the expected repercussions that AIG may face, AHBE also wants the insurance company to pay an additional 50% penalty. The penalty is set to cater for the unpaid losses, and the funds used to hire attorneys. AIG has since remained silent on this matter, not replying to any email sent to them concerning the matter.

About Bruce Levenson

Bruce Levenson was part of the ownership of the Atlanta Hawks basketball team that sold the franchise to Antony Ressler. Apart from this, Bruce is the co-founder of United Communications Group (UGC), a company he established together with Mr. Ed Peskowitz. Before forming UGC, Bruce worked as a writer for Washington Star, where he also served as a publisher. He has also directed TechTarget.com.

Some know Bruce Levenson for his philanthropic work. According to PR News, one of his well-known philanthropic work is the “I Have a Dream Foundation”, in which he served as the president. He has also been involved in many other philanthropic activities. Mr. Bruce holds a Bachelor degree in Arts. He graduated from Washington University.

 

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