The Atlanta Hawks Basketball And Entertainment Allegations Against The Insurance Company AIG, For A Breach of Contract.
The former owners of The Atlanta Hawks NBA team, The Atlanta Hawks Basketball and Entertainment LLC (AHBE), have filed a lawsuit against their insurance company, New Hampshire Insurance Company also known as AIG.
According to ESPN, the new owners, led by the leader Tony Ressler are clear of the AHBE allegations. Bruce Levenson is a member of the AHBE owners. Bruce Levenson is also a businessman and philanthropist.
The spokesperson of the new team owners noted that they are aware of the ongoing complaints by AHBE, but do not have a current relationship with the former owners.
The lawsuit states that the insurance company breached the contract with the settlement claims raised by the former general manager of the team, Danny Ferry.
The case filed in the Superior Court of Fulton County on September 13th.The lawsuit also called AIG, further stated that the allegations are a legal act for the breach of contract. According to AHBE, the insurance company signed a deal to provide coverage for damages caused by employment changes. The coverage terms and conditions stated that the company would claim patents for wrongful termination and workplace misdemeanors.
AHBE notified AIG of Danny Ferry’s claims on April 2nd of 2015 by the agreement made with them.
On June 22nd of 2015, Danny Ferry and Tony Ressler reached a deal of the team’s trade. The disclosure of the sale was announced two days after the agreement. The AHBE then ended its six-year ownership of the team which began in 2012 under a contract worth $18 million.
The court documents state that AIG has entirely denied the claims by AHBE. They have also denied the former owners the alleged rightful coverage for employment termination.
James J. Leonard and Thornburg LLP explained that the court documents are sufficient to vindicate AIG. He also added that his firm would charge the firm 50% of the uncovered damages to pay for the attorney’s services.