June 2015 marked the end of the ownership of the Atlanta Hawks for Bruce Levenson after his Atlanta Hawks Basketball and Entertainment group finalized the sale of the NBA franchise to a consortium led by Tony Ressler, reports Forbes.com; in the days and months leading up to the sale of Hawks, General Manager Danny Ferry’s actions and comments were the subject of negotiations between Levenson and insurance company AIG to test whether a workplace insurance policy had been triggered prior to a claim being made.
Lawyers acting on behalf of Bruce Levenson have now brought a legal case against AIG after they claim an agreement to complete a payout over the insurance policy was ignored by the company who have also refused to discuss the policy since the sale of the Hawks was completed. The legal case will be heard in Fulton County, where Bruce Levenson and his fellow consortium members are hoping a judge will rule in their favor over the mutual termination of the multi million dollar contract of Danny Ferry.
Bruce Levenson has been a major loss to the NBA community since his decision to sell the Atlanta Hawks was made public after he had spent a large amount of time working closely with the charitable groups the league often partners with; not only was Levenson a member of the NBA Board of Governors, but he was also major part of the committee’s organizing events for the Hoop Dreams and Make A Wish Foundations.
The basis of the claim made by Bruce Levenson and his fellow former Hawks ownership is based around the fact AIG have breached their insurance contract, but also Levenson’s lawyers have stated the group is also looking for a financial penalty to be levied against AIG for bad insurance faith.