A Review of the Controversy Around the Ferry Settlement

Atlanta Hawks Basketball and Entertainment LLC is the former ownership franchise of NBA team, Atlanta Hawks. The firm recently sued the New Hampshire Insurance Company following a breach of contract. This breach was brought about by the settlement of claims that had been made by the former general manager of the franchise, Danny Ferry. AHBE’s lawsuit doesn’t involve the current ownership of the basketball team.

Details of the Lawsuit

The lawsuit was filed at Fulton County’s Superior Court on 13th September. The insurance company is accused of acting in bad faith by withholding Ferry’s settlement. AHBE claims that it was indemnified under a policy that provided coverage against losses pertaining to employment practices. This included workplace torts and wrongful termination. Court documents indicate that AHBE notified the insurance company about the settlement in April 2015. However, the insurer did not make any attempts to settle the claims.

Ferry and the Hawks ownership led by controlling partner Bruce Levenson arrived at an anonymous takeover agreement in June 2012. This brought to an end a relationship that started with a six contract worth 18 million dollars. According to Forbes.com, the agreement to sell the NBA team to Ressler was reached two days later. The current owners of the team point out that they are aware of the lawsuit and that those who mentioned are no longer part of Atlanta’s Hawks’ setup.

Bruce Levenson in Brief

Mr. Levenson is a renowned corporate executive and publisher. He is the immediate former owner of NBA team, Atlantic Hawks. He is credited with the establishment and success of United Communications Group. He cofounded the company with Ed Peskowitz in 1977.

Levenson had made a name for himself as a journalist before establishing his vast publishing empire. His journalism career saw him work for the Washington Star and Observer Publishing. Mr. Levenson also serves on the board of Tech Target Inc., The Newsletter, and Electronic Publishers Association.