Back to the Utah State Aggies Newsfeed

USA Gymnastics files for bankruptcy, plans to fight to preserve certification

Facing 100 lawsuits from more than 350 sexual-assault victims of team physician Larry Nassar, USA Gymnastics filed for bankruptcy protection Wednesday.

The voluntary filing does not represent USA Gymnastics' surrender of its role as the sport's national governing body. Its recently appointed board chairman said the step was taken to expedite payment of claims to the many victims and to allow the organization to continue day-to-day operations while continuing its search for its fourth president and CEO in the past two years.

"This is not a liquidation; this is a reorganization," said Kathryn Carson, who last week was elected chair of USA Gymnastics' Board of Directors.