USA Gymnastics filed for Chapter 11 bankruptcy on Wednesday as it searches for ways to remain afloat in the wake of the Larry Nassar sexual abuse scandal.
The national governing body for gymnastics said it hopes this latest move will allow for an expedited process in handling dozens of civil lawsuits related to the sexual abuse perpetrated by Nassar, the former national medical coordinator who was convicted of assaulting patients under the guise of medical treatment.
Kathryn Carson, chair of the USA Gymnastics board of directors, said the move is a reorganization and not a liquidation.