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Bruce Levenson: A Successful Business Leader

The Atlanta Hawks Basketball and Entertainment, LLC filed a lawsuit against AIG, an insurance company in New Hampshire, alleging a breach of contract that involved a claims settlement made by their former general manager, Danny Ferry. Bruce Levenson was a member of this former Hawks ownership group, and the lawsuit does not involve Tony Ressler, the current NBA Franchise owner.

Time Magazine describes Bruce Levenson as a business professional. Among many other business ventures, he is a former co-owner of Atlanta Hawks LLC. This company owns and operates the Philips Arena and the Atlanta Hawks NBA team. Levenson went above his call of duty as co-owner to become the Hawks’ representing Governor on the NBA Board of Governors.

Levenson also co-founded United Communications Group. He is also a board member of TechTarget, an industry media company working in IT. This, along with his philanthropic activities with his family, have made him a very successful business leader.

The lawsuit is a civil action suit for breach of contract and refusal to pay a claim. AHBE claims their policy covers specific losses, including certain acts of wrongful termination, wrongful demotion, constructive discharge, retaliation, defamation, and misrepresentation. On April 2, 2015, AHBE notified AIG that claims had been filed that they believed were covered.

On June 22, 2015, Ferry and the Hawks ownership came to an undisclosed buyout agreement. This ended a relationship that began in 2012 with a six-year, $18 million contract. The franchised was approved to be sold to Tony Ressler and his group only days later.

While the amount of the claim is confidential, the lawsuit does acknowledge that the limits of liability of the insurance policy are enough to cover the claim. The lawsuit also states that AIG not only refuses to acknowledge a claim was made and, but also that the policy was triggered. AIG refused to pay the covered loss without a significant amount of justification. However, AIG was unable to hold that a claim was neither claimed nor covered.

Reference; http://brucelevenson.com/

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