On June 22, 2015, the Atlanta Hawks Basketball and Entertainment LLC, and its General Manager, Danny Ferry, reached an agreement to end $18 Million six-year contract. As a result, ownership of ABHE were transferred to Ressler led group. The fact that Danny Ferry was an active employee of ABHE, the company filed a claim for insurance payout to New Hampshire Insurance Company as it believed that the termination triggered certain clauses for Wrongful Termination and Workplace Torts.
According to ABHE, it contacted New Hampshire Insurance Company and AIG before the contract. However, both companies failed to respond to ABHE. In fact, AIG never initiated any dialogue to represent ABHE regarding the agreement. Subsequent calls by ABHE were also not returned. Therefore, the management has filed a lawsuit to force AIG to respond to queries.
According to court papers, the lawsuit suggests that AIG intentionally failed to respond to request or acknowledge requests by ABHE. As a result, ABHE and its stakeholders have suffered losses. The lawsuit also states that the insurance company has failed to pay, and it also failed to acknowledge calls of ABHE. Therefore, AIG and New Hampshire Insurance companies acted in bad faith.
The law firm, James J. Leonard of Barnes & Thornburg LLP, representing ABHE confirmed that it seeks an additional penalty of 50 percent. In addition, ABHE also demands that they should be compensated for the attorney fees. As of now, it seems that AIG is still reluctant to address the issue.
Bruce Levenson is the man who was in charge of ABHE. He is also a well-known entrepreneur in the sports sector. Besides, Bruce is an active philanthropist who is also active in various community based organizations in Washington D.C.