According to a report by Reuters, on Wednesday, USA Gymnastics filed for bankruptcy, the latest blow for an organization that has struggled to recover from scandal. Court records reportedly show that the organization filed for protection from creditors in US Bankruptcy Court in Indianapolis. Kathryn Carson, the chairwoman of the USAG board, said on a conference call with reporters, “Our organization is a financially solid going concern but for the hundred lawsuits that we do have out there. That is the primary reason that we made this filing, to use the Chapter 11 process as a vehicle for resolving those claims.”
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U.S. Gymnastics Files For Bankruptcy Citing Hundreds Of Lawsuits | |
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| News & Politics | Upload TimePublished on 5 Dec 2018 |
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