Category Archives: Ownership Issues

Why AHBE And AIG Aren’t In Good Terms

The former ownership of Atlanta hawks, with Bruce Levenson being part of it, recently filed a lawsuit against AIG, an insurance company that they previously had dealt with. Through their legal representation, AHBE (the former owners of the NBA franchise) argues that most of the terms in their contract with AIG, which involved the claims settled by Danny Ferry (former general manager), were violated. The lawsuit also serves as a civil action for insurance bad faith.

The amount of the claim has been kept confidential. According to the report by ESPN, AHBE made a claim, which AIG fails to acknowledge. To top to this, AIG has failed to acknowledge that their action has triggered the policy. The breach of contract occurred when covered losses in the settlement between AHBE and the current ownership weren’t paid. For this, AHBE is seeking a 50% penalty. The amount being sought is also to be used to pay attorneys.

AIG has, since then, remained silent on this issue. The current Hawks management, however, through its spokesman, clarified that the lawsuit doesn’t affect them in any way, and that they would stay clear on the matter.

About Bruce Levenson

The co-founder of United Communications Group (UCG) was once part of the group that owned the Atlanta Hawks, an NBA franchise, before it got sold to Antony Ressler, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/. He co-founded UCG with the help of Ed Peskowitz. Prior to this, he had served as a write, putting together articles for the Washington Star. He also published articles there. Bruce has also served as a director at TeckTargett.com.

The “I Have a Dream Foundation” is what many know Bruce for. According to PR News this is one of his numerous philanthropic projects, where he serves as president. The Bachelor of Arts degree holder, who graduated from Washington University, certainly has a soft spot when it comes to charity work.