In 2004 Bruce Levenson and Ed Peskowitz formed the Atlanta Hawks Basketball Entertainment LLC (AHBE) and purchased ownership of the NBA Atlanta Hawks and Philips Arena from Turner Broadcasting. It wasn’t until 2012 that Levenson hired Danny Ferry, a former player of the Cleveland Cavaliers, as general manager and president of basketball operations. In a report by Forbes.com, shortly thereafter Levenson sold his share of ownership of the NBA Atlanta Hawks in 2014.
Although AHBE no longer owns and operates the NBA Atlanta Hawks and Philips Arena, Levenson still directs AHBE. Bruce Levenson and his legal team at AHBE have filed a lawsuit against New Hampshire Insurance Company also known as AIG for breach of contract. The claim specifically takes issue with settlement losses AHBE experienced in the termination of Danny Ferry in which AIG failed to cover. AHBE attests that their policy with AIG provided coverage for losses related to employment practices including “Wrongful Termination” and “Workplace Torts.” While AIG has refused to pay the covered loss, the firm representing AHBE is confident that AHBE’s complaint speaks for itself. In addition to seeking coverage of the costs for the settlement loss with Danny Ferry, the lawsuit also seeks an additional 50% penalty of the unpaid loss along with attorney’s fees and costs.