sportpoint/iStock(NEW YORK) — Reeling from lawsuits over the serial sexual abuse perpetrated on athletes by former Olympic team doctor Larry Nassar, USA Gymnastics filed for bankruptcy protection on Wednesday.
The organization filed for Chapter 11 protection from creditors in U.S. Bankruptcy Court in Indianapolis, Indiana, according to court records.
“The filing enables us to expedite an equitable resolution of the claims made by the survivors of sexual abuse perpetrated by Larry Nassar,” USA Gymnastics said in a statement released Wednesday.
The USAG officials emphasized that claims made against the organization by Nassar’s victims are covered by insurance and will not be affected
