The Unresolved Case Between AIG And Former Owners Of Atlanta Hawks

Atlanta Hawks recently got a new management and ownership. The former owners sold the company to the billionaire Tony Ressler-led team. According to ESPN, the reasons for selling the company rest solely with the former owners of the esteemed company, which is an NBA franchise. However, it is clear that the former owners led by Bruce Levenson and Danny Ferry have an unresolved issue with AIG over unpaid claims. According to an article published on Atlanta journal constitution’s website, there is a pending court case between the two parties.

AIG is reported to have committed a breach of their contract and acted in bad faith when it refused to pay the losses claims by the former ownership of the company. They say that Mr. Ferry, the previous general manager of Atlanta hawks, had affirmed the claims with the insurance company. The tussle rises from the fact that the letter has refused to acknowledge the claim and that the course of action has been triggered. The losses are said to be under the coverage of the policy, which also protects workers from unlawful dismissals and unfair treatment at the workplace. It means that AIG has no reason for refusing to pay for the losses, as it has also failed to prove that the claims were not made. The court case filed on 13th September seeks to use the legal means to have the insurance company own up to its part of the deal, and pay as stated in the policy agreement.

Bruce Levenson

UCG founder Bruce Levenson spent most of his life in Chevy Chase, Maryland. He was born in Washington, D.C. He studied at the Washington university college in St. Louis. He did a degree in law at the American university. While at the university, he realized his love for journalism and has been a part-time journalist since then. He is a loving father to three sons, and loving husband to Karen. He has homes in Potomac and Atlanta

Source: https://en.wikipedia.org/wiki/Bruce_Levenson

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