USA Gymnastics; the governing body of gymnastics in the US has filed for bankruptcy amid its efforts to reach dozen of settlements for the sexual abuse cases it is currently facing.
To secure their own survival, USA Gymnastics filed for their bankruptcy under Chapter 11 of the bankruptcy petition.
Chairwoman for the USA Gymnastics; Kathryn Carson said to media that, “this is not liquidation instead is reorganization”.
USA Gymnastics is facing over 100 lawsuits which are being represented by 350 athletes to recover from the scandal of the national team doctor sexually abusing hundreds of gymnasts.
The main culprit for the sexual abuse cases; Larry Nassar has been sentenced to 300 years in prison following two trials back in February. Nearly 150 women testified against him for being abused at his hands.
The organization claims that filing for protection from creditors will help them quickly resolve the claims from the victims.
Wall Street Journal also made the report about the USA Gymnastics’ bankruptcy stating that it would put a stop to further discoveries related to the lawsuits filed by victims and also could halt the efforts to revoke the organizations status as the official governing body.
Aly Raisman; the two times Olympian said that “if only one adult had spoken about the 30 years of abuse being carried out by Nasser; all of it could have been stopped.
Following the scandal entire board of USA Gymnastics resigned along with the president and athletic director at Michigan State University. Michigan State University is the place where Larry Nasser worked most of his life and carried out his abuse.
Related Content
