It is a commonly held belief that insurance companies can often make life difficult for those who are making claims against an existing policy, but we rarely think of the most successful business people in the world being forced into making legal claims against one of the world’s best known insurance giants. According to Time Magazine, this is exactly the case for former Atlanta Hawks owner Bruce Levenson as he and his fellow consortium members in the Atlanta Hawks Basketball and Entertainment LLC company as they continue to fight for the financial compensation they feel is due to them following the mutual termination of the contract of General Manager Danny Ferry.
After more than a year of unanswered communications from Levenson’s group to AIG attorney’s for the consortium have finally brought a legal case to the Superior Court of Fulton County in a bid to end what they see as an unacceptable standoff. Although few details of the financial settlement being sought by the group have been made public it is known the case revolves around the mutual termination of the contract of Danny Ferry in the days leading up to the announcement of the sale of the Hawks franchise to billionaire Tony Ressler. Following the $730 million purchase of the franchise by Ressler the front office of the team was altered to include a number of former administrative staff from the San Antonio Spurs.
Bruce Levenson has made a success of his business career through the establishment of UCG, which began life in a spare room as a single oil industry newsletter before becoming a wide ranging real time information supplier to various industries. In his philanthropic work Levenson has been taking a major interest in global events and joined other prominent U.S. based business leaders of the Jewish faith to call on Israeli officials to take diplomatic steps in a bid to achieve peace in the Middle East. View Levenson’s bio on Wikipedia.