The New Hampshire Insurance Company is being sued by the former owner of the Atlanta Hawks. The lawsuit has been filed on grounds of breach of contract which is alleged to have happened during the settlement of some of the claims made by the company’s former manager. Included in the suit was the former owner of the Basketball Team, UCG founderBruce Levenson. Bruce sold the company back in 2015 after being in the leadership position for close to four year, reports Forbes. However, the current leadership of the team was aware about the suit and did not want to get involved.
The lawsuit had been filed in the superior court in the Fulton County in September last year. The claim that was made included breach of contract and bad faith insurance. The former management team at the hawks explained that when the insurance cover was taken and the company started paying their premiums, they had been promised that they would be covered for all malpractices connected to employment laws. Their understanding was that this covered issues such as work place torts and even wrongful termination. The company gave notice to the insurer about the claims they were making against Ferry but there was no reaction about it.
These issues started unraveling when Bruce decided to sell the company in the June of 2015. The six year contract that AHBE had had with the insurer was terminated when Tony Ressler took up ownership. The current group that is managing the team was reached for a comment on the matter but they declines to offer any information and maintained that they were not part of the entire issue.
The lawyers that are participating in the lawsuit claim that AIG has been taken to court because they refuse to address the claims that obviously fall within the terms that were described by the contract. They hope a speedy resolution will be found soon.