AHBE Files Lawsuit Against Insurance Company
In 2015, the former ownership group of the Atlanta Hawks basketball team filed a lawsuit against their former insurance company, New Hampshire Insurance Company. The suit accused New Hampshire Insurance of breach of contract involving Danny Ferry’s claims of their settlement. Mr. Ferry is now former General Manager of New Hampshire Insurance.
The lawsuit was filed on September 13. The civil action suit is claiming breach of contract and insurance bad faith. The former ownership group, referred to as AHBE, claims that under their insurance policy, they would be covered for certain losses related to employment practices. According to the policy, those employment practices could include, but were not limited to, certain acts of “wrongful termination” and “workplace torts.”
The AHBE has provided documents proving that they gave the insurance company, described as AIG, notice of the claims filed by Danny Ferry. In those documents, Ferry stated that he believed that AHBE was covered following their losses.
Earlier that year, Ferry and AHBE reached an undisclosed buyout agreement. This agreement officially ended the six-year relationship between the two parties. Two days after the agreement, AHBE sold the franchise to the Ressler-led group, the current owners of Atlanta Hawks Basketball and Entertainment LLC.
Due to this legal issue making the PR News headline, Ressler wants everyone to understand that although they’re aware of the situation, the lawsuit only involves former owners, not current owners. He offered no further comment on the matter.
The leader of AHBE was Bruce Levenson, brucelevenson.com. Most known as one of the co-founders and Partner of United Communications Group, Mr. Levenson was more than qualified to lead the group. He’s also a former writer for the Washington Star and Observer Publishing. He’s a graduate of Washington University and American University.