USA Gymnastics files for bankruptcy as part of 'reorganization'

USA Gymnastics filed for Bankruptcy 11 chapter on Wednesday because it searches for tactics to stay afloat within the wake of the Larry Nassar sexual abuse scandal.

The nationwide governing frame for gymnastics stated it hopes this newest transfer will permit for an expedited procedure in dealing with dozens of civil proceedings associated with the sexual abuse perpetrated via Nassar, the previous nationwide clinical coordinator who used to be convicted of assaulting sufferers underneath the guise of clinical remedy.

“This isn’t a liquidation,” stated Kathryn Carson, the chair of USA Gymnastics’ board of administrators stated. “It is a reorganization. … We owe it to the survivors to get to the bottom of, totally and after all, claims in keeping with the horrific acts of the previous.”

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