Former Hawks ownership team has filed a lawsuit against an insurance company known as New Hampshire. The insurance enterprise has been charged with a breach of contract it had signed with Bruce Levenson. The case concerns the former manager of the basketball team, Danny Ferry. Bruce Levenson serves as the controlling partner of the ownership group, and he believes that the insurance company should pay for the damages his group has incurred. At the moment, the Atlanta Hawks is owned by another group.
The case is believed to have been filed last year in September at the Superior Court of Fulton. According to news published by Bruce and his UCG group, New Hampshire Insurance Company, popularly known as AIG had chosen to act in bad faith against Bruce Levenson’s team. Levenson believes that the insurance company should have covered for all the losses it had incurred, especially in employment practices and wrongful termination of all its employees. The Hawks managing group had decided to terminate Danny Ferry employment in the year 2015, and it was the responsibility of the insurance company to cover all the costs that were incurred to the termination.
After a lot of closed-door negotiations, Ferry and the respectable Hawks management had decided to buy his contract. The agreement is believed to have brought Danny Ferry’s eighteen million dollars to an end. The contract in question was originally signed to cover six years. However, the managing team had to terminate the contract so that it can sell the Hawks to Forbes billionaire Tony Ressler. Bruce Levenson, however, said that the decision to sue the company would not affect the new leadership of the team in any way. The insurance company has not made any acknowledgment of the case so far. The team says that it is not interested in the case, and it is only working hard for the upcoming matches.