The Forbes reported 2015 sale of the Atlanta Hawks NBA franchise by the Atlanta Hawks Basketball and Entertainment Group headed by Bruce Levenson should have seen all the loose ends of the groups ownership tied up in a short period of time; however, the mutual termination of the contract of former Hawks General Manager continues to cause issues for the former owners over a year after the final sale of the team was completed. A court battle is now taking place with Bruce Levenson’s group claiming insurance giant AIG is refusing to payout on a claim that was triggered by events leading up to the termination of Ferry’s contract.
Bruce Levenson has proved on numerous occasions that he is a business leader to be reckoned with in his work as the co-founder of the United Communications group; http://www.ucg.com/AboutUs/Ownership.aspx, UCG began life as a single oil industry newsletter before the company expanded to purchase numerous other newsletters and become the top supplier of information to the industry. Over recent years Levenson has taken the developing technology from the analytical industry and provided new services for consumers, including his heading of a team to develop the GasBuddy app.
The termination of the contract of Danny Ferry was completed in June 2015 just two days before the completion of the sale of the franchise to technology billionaire Tony Ressler. Lawyers working for Bruce Levenson have not revealed the details of the financial settlement being sought from AIG, but they have explained the workplace based insurance policy was triggered by events preceding the mutual termination of the contract and a payout should have been made with ease. AIG have yet to respond to the claims made by Levenson’s group and will head to a Fulton County Court to face charges of breach of contract and insurance bad faith.