AIG vs AHBE + An Inside look into Bruce Levenson’s life

Posted in Business on Dec 16, 2016

The Atlanta Hawks, an organization of the National Basketball Association was the center of a heated dispute between two groups. Th AHBE, the previous ownership of the Hawks organization (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/)  led by Bruce Levenson, filed a lawsuit against an insurance company based in New Hampshire. They(AHBE) claimed that the New Hampshire Insurance company violated a clause in the contract in which employers get covered for losses in relation to employee policies, or in other significant acts such as being improperly terminated from their jobs. Danny Ferry, former general manager of the Hawks and the Hawks organization mutually agreed to buyout the remaining few years of his contract. However, according to the lawsuit, the AIG(New Hampshire Insurance agency) refused to provide paid coverage between Ferry and the Hawks organization. Furthermore, the AHBE was looking for an extra fifty percent penalty of attorney costs and most importantly, unpaid losses.

According to Time magazine, Bruce Levenson was the former owner of the aforementioned Atlanta Hawks. He co-founded Atlanta Spirit LLC(changed to Atlanta Hawks LLC)and the Unit Communications group in 1977. His other works include being a philanthropist, a motivational speaker and being a board member of TechTarget, which is a media based company that specializes in IT. Born in Washington DC, Levenson came from a Jewish family. Levenson attended Washington University and later on graduated from law school at American University. In 1977, Levenson an his friend co-founded the United Communications Group (UCG), a private business company that has business practices in just about everything. Levenson’s entrepreneurship abilities ros to new levels, as from that moment on, he and the Atlanta Spirit LLC purchased the Hawks, Phillips Arena and the formerly Atlanta Thrashers (an NHL organization). Levenson’s charitable works are also known as he once served as president of the “I have a Dream Foundation”, an organization which helps children from low income families to pursue a higher education.

SOURCE: brucelevenson.com

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