Category: Hawks Ownership
The former owners of the National Basketball Association franchise, The Atlanta Hawks Basketball and Entertainment LLC, has gone to court against New Hampshire Insurance Company due to an alleged breach of contract regarding the settlement of claims brought forward by their former general manager Danny Ferry.
The filed lawsuit does not involve the present day Hawks ownership led by the mercurial principal owner Tony Ressler. The previous Hawks ownership group (AHBE) nevertheless included controlling partner Bruce Levenson. Bruce Levenson is a passionate individual that has single-handedly pushed the firm to the level it is currently.
The lawsuit was filed in the Superior Court of Fulton County on thirteenth September. The complaint described it as an insurance bad faith and a civil action for breach of contract. AHBE’s lawsuit describes that they were insured under a policy that is employment related but not limited to wrongful termination of employees.
On twenty-second June 2015, an undisclosed buyout agreement was reached with the Ferry and Hawks ownership ending a six-year contract deal. The deal was rumored to be worth more than eighteen million dollars. The Ressler-led group then took over the franchise after two days of negotiations.
According to ESPN News, current Hawks ownership spokesperson said that they were aware of the complaint, but since the warring parties no longer have ties to the franchise, they will not be involved in the ordeal hence would not comment anymore on this matter.
The court said that the claim amount is confidential but the limits of the liability are sufficient to pay AHBE’s claim. The insurance company is said to have refused to honor the policy while it had been triggered.
James J. Leonard of Barnes and Thornburg LLP, the firm representing AHBE, stated that the complaint speaks for itself. The lawsuit includes a fifty percent penalty for attorney’s fees and unpaid loss.