Category: Hawks Ownership

UNFOLDING THE MYSTERY BEHIND THE FORMER ATLANTA HAWKS OWNERSHIP CASE

Bruce Levenson, a philanthropist and the director of Tech Target Inc., was born in 1950 in the United States of America. According to PR News, he is currently the owner of Atlanta Spirit and also the president of “I have a dream foundation.” He previously worked with Washington Star and Observe Publishing. Also, he is the co-founder and partner of the United Communication Group

He is a product of Washington University where he attained a Bachelor of Arts degree and later got an M.D. from the American University.

Source: Wikipedia.org

The case

The case involved a breach of contract between the former Atlanta Hawks Basketball ownership, which comprised of Levenson and Gearon among others. The case was presented in the superior court of Fulton. The plaintiff argued that his insurer failed to compensate him under the policy of coverage for losses resulting from uncertainties like employment issues.

AHBE claims it gave notice to the AIG on 2nd April 2015 on the matter of bereavement by Ferry. According to the plaintiff, this was covered by the insurance agreement. The result is that they terminated the contract through an agreement and hence the relationship ended. On the other hand, the defendant seemed not to act to the plaintiff’s wish due to lack of concrete reasons.

The court ruled out that AHBE’s claim was in order and hence they were supposed to be compensated by the insurance company. It further noticed that there was indeed a breach of contract for failure to pay compensation fee for the incurred loss. Again, the court noted that the AIG had no justification on why they had not enacted the payment.

Read about the Hawks Sale here: http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/