Bruce Levenson, through AHBE, the former Atlanta Hawks ownership group, has sued AIG insurance company over lack of settlement. In the lawsuit, Bruce stated that their insurance policy covered any losses that would have been incurred in the process of their settlement with the current Hawks ownership group. The lawsuit shows that ABHE had informed the AIG insurance company of the losses they had incurred during the process with the aim of getting compensated. However, the insurance company did not even respond to the settlement claim.
Bruce, through his lawyers wants the court to compel the insurance company to either accept or reject the settlement claim to pave way for the next course of action. According to Time Magazine, the current Hawks ownership group has vowed to keep away from the matter in court as the case is not between the NBA team and the insurance company but between the insurance company and the former Hawks ownership group.
In the lawsuit, AHBE is seeking to be compensated for not only the settlement but also for AIG’s breach of contract. Before the court, Bruce’s lawyers claimed that the time within which the settlement claim should have been settled has expired and therefore their client should be compensated for the time that has passed since.
Bruce Levenson is a businessman and a philanthropist. He was the owner of AHBE which was the Hawks ownership group until the transfer of ownership in 2012. In 1977, Levenson formed a partnership with Ed Peskowitz to start United Communications Group. Bruce was also involved in starting TechTarget and serves in the board of directors of the media company.
As a philanthropist, Levenson has been involved in many charity organizations. One such organization is I Have a Dream Foundation which provides scholarships to children from low income families around the United States.