USA Gymnastics filed a plan today to help the organization come back from bankruptcy, according to a news release by USA Gymnastics.
The plan offers sexual abuse survivors one of two options: they may vote as a group to accept $215 million to settle all of their claims, or they may vote to continue to pursue their lawsuits and collect any judgments from insurance policies available to USA Gymnastics.
USA Gymnastics President Li Li Leung described the $215 million as the amount the insurance carriers have agreed to provide at this point, according to the Associated Press.
Athletes who were abused by former national team doctor Larry Nassar have been in mediation with USA Gymnastics since the organization filed for bankruptcy in December 2018.
“It has always been our goal to reach a consensual settlement agreement with all of our creditors through the bankruptcy process.” said Leung.
If the survivors vote to accept the settlement, the insurers for Twistars will also contribute an additional $2.125 million to the settlement amount.
Leung emphasized that “our top priority remains athlete safety.”
“This proposed plan does not include the critical structural changes…
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