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USA Gymnastics Files For Chapter 11 Bankruptcy

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USA Gymnastics Files For Bankruptcy

First reported by Si.com

Summary:

  • Is this the end of USA Gymnastics?  The organization has filed for Chapter 11 bankruptcy as it faces more than 100 lawsuits over its handling of the Larry Nassar scandal.
  • The move comes at the same time that the U.S. Olympic Committee is working to drop its affiliation with USA Gymnastics.
  • Chairwoman Kathryn Carson called the move a ‘reorganization’ rather than a ‘liquidation’.  It will not affect the money paid out to Nassar’s victims.

Questions:

  • Can USA Gymnastics be saved, or is the best option to tear it all down and start over?
  •   Has the Nassar scandal made you look at Olympic gymnastics differently?

Article:

USA Gymnastics is attempting to settle dozens of sex-abuse lawsuits.

USA Gymnastics is turning to bankruptcy in an effort to ensure its survival.

The organization filed a petition for bankruptcy in Chapter 11 on Wednesday in an attempt to reach settlements in the dozens of sexual abuse lawsuits it is facing and to prevent its possible demise by the United States Olympic Committee.

Read More: https://www.si.com/olympics/2018/12/05/usa-gymnastics-files-bankruptcy-sexual-abuse-scandal-larry-nassar-lawsuits

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USA Gymnastics files for Chapter 11 bankruptcy

USA Gymnastics Files For Bankruptcy In Wake Of Sex Abuse Lawsuits

USA Gymnastics files for bankruptcy amid scandal

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