Former Hawks ownership sues insurance company over Ferry Settlement

The Atlanta Hawks Entertainment and Basketball Company, the former NBA franchise group, had issued a filed litigation against the New Hampshire Assurance Company for contract breach that involved the settlement of claims made by Danny Ferry when he was the general manager of the company. The former ownership group in the Hawks had the inclusion of Bruce Levenson as the controlling partner. However, the current litigation has nothing to do with the current ownership of the company led by Forbes billionaire Tony Ressler.

This litigation, filed at the Fulton County Superior Court in September against the Hampshire Insurance company, is described as a civil action that involves contract breach and bad faith in insurance. The Hampshire Insurance Company claims that the company had given their clients an insurance policy that covered them for certain losses that relate to wrongful termination of work, workplace torts, and employment practices. According to the documents presented in court, AIG got a notice from Hampshire Insurance Company in 2015 that Ferry asserted their claims. They also believed that the claims were covered under the act.

Hawks and Ferry ownership had an agreement. In the closed-door agreement, they agreed to an undisclosed buyout that marked the end of their six-year business relationship with the $18 million contract. In two days, the Ressler-led group agreed to purchase the company.

According to the current Hawks ownership spokesman, this litigation has nothing to do with the current management of the company. For this reason, the principals involved in this litigation remain to be the former management of the company.

The claim was made confidential according to the documents presented in court. They are also aware of the complaints. For this reason, the current ownership of the Hawks is not part of this litigation. However, the Hampshire Insurance Company has refused to acknowledge the formation of this claim.

https://www.nsf.gov/staff/staff_bio.jsp?lan=blevenso

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