Workplace contracts can often be difficult to navigate for businesses of all sizes, but for former Atlanta Hawks owner Bruce Levenson the insurance claim made over the mutual termination of Danny Ferry’s contract as General Manager should have been a simple one to handle. Just two days before the sale of the Hawks franchise to billionaire Tony Ressler the $18 million contract Ferry was just halfway through was terminated with Levenson’s attorneys claiming events had triggered a workplace insurance policy with AIG; in papers filed with the Superior Court of Fulton County it is stated Levenson’s Atlanta Hawks Basketball & Entertainment LLC began their insurance claim as early as April 2015 and believe a payout was agreed with the insurance giant.
The $730 million sale (see, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) of the Hawks NBA franchise was completed in the Summer of 2015, but over a year later Bruce Levenson’s group are still fighting over the insurance claim made over Danny Ferry’s contract. Information so far released by attorney’s for Bruce Levenson does not reveal the level of financial settlement being asked for, but do state the insurance claim should have been handled in a speedy manner as the requirements of the AIG policy have been met, according to legal experts.
Time Magazine reveals Bruce Levenson has been a respected part of the U.S. business community for many years and worked alongside Goldman Sachs and Inner Circle Sports to facilitate the sale of the Hawks franchise. As the head of the United Communications Group alongside long term business partner Ed Peskowitz, Bruce Levenson has taken a single oil industry newsletter and turned it into a globally recognized technology based information giant. The continuation of the work of Bruce Levenson has seen him take the technology developed for UCG and use it to create new companies, such as TechTarget and the GasBuddy app. Bruce is active community based programs. Read more about his charity work on prnewswire.com.