May 15, 2019 / 1:31 AM / a month ago

Nonprofit says asset hunt in USA Gymnastics Ch. 11 puts it at risk

The National Gymnastics Foundation warned on Monday it will collapse if its assets are swept into the estate of USA Gymnastics, which filed for bankruptcy protection last year in response to hundreds of lawsuits filed by women who said they were sexually abused by former national team doctor Larry Nassar.

In a filing in USA Gymnastics’ Chapter 11 bankruptcy in federal bankruptcy court in Indianapolis, the foundation argued a bid by a committee for sex abuse claimants to obtain its records could lead to its assets being consolidated with those of USA Gymnastics to help pay claims.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2Q5j5QQ

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