USA Gymnastics is turning to bankruptcy in an effort to ensure its survival.

The embattled organization filed a Chapter 11 bankruptcy petition on Wednesday as it attempts to reach settlements in the dozens of sex-abuse lawsuits it faces and to forestall its potential demise at the hands of the U.S. Olympic Committee.

USA Gymnastics filed the petition in Indianapolis, where it is based. It faces 100 lawsuits representing 350 athletes in various courts across the country who blame the group for failing to supervise Larry Nassar, a team doctor accused of molesting them.

Kathryn Carson, who was recently elected chairwoman of the board of directors, said the organization is turning to bankruptcy to speed things up after mediation attempts failed to gain traction.

B次元官网网址淭hose discussions were not moving at any pace,B次元官网网址� Carson said. B次元官网网址淲e as a board felt this was a critical imperative and decided to take this action.B次元官网网址�

The filing does not affect the amount of money available to victims, which would come from previously purchased insurance coverage, she said. Carson said the insurance companies B次元官网网址渁re aware weB次元官网网址檙e taking this action and our expectation is they will come to the table and pay on our coverage.B次元官网网址�

Carson added: B次元官网网址淭his is not a liquidation. This is a reorganization.B次元官网网址�

This filing will enable USA Gymnastics to continue to support its athletes, to fully operate and meet its responsibilities to the entire membership and to expeditiously resolve the claims made by the survivors of sexual abuse perpetrated by Larry Nassar.

B次元官网网址� USA Gymnastics (@USAGym)

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One that USA Gymnastics hopes will buy it enough time to fend off the USOCB次元官网网址檚 intent to decertify it.

The USOC on Nov. 5 took steps to remove USAG as the sportB次元官网网址檚 governing body at the Olympic level B次元官网网址� a step thatB次元官网网址檚 taken only under the most extreme circumstances. In an open letter to the gymnastics community, USOC CEO Sarah Hirshland said B次元官网网址測ou deserve better,B次元官网网址� and that the challenges facing USA Gymnastics were more than it was capable of overcoming as currently constructed.

Carson said the legal manoeuvring Wednesday delays the USOCB次元官网网址檚 efforts to strip its designation as a national governing body.

B次元官网网址淲e always have a dialogue going with them and intend to make it clear with them we have a lot to talk about and we want to keep that going,B次元官网网址� Carson said.

USOC spokesman Patrick Sandusky disagreed.

B次元官网网址淲hile we fully understand that USAG believes this restructuring will begin to solve deficiencies weB次元官网网址檝e identified, the filing does not impact our Section 8 complaint and that process will move forward,B次元官网网址� Sandusky said.

Will Graves, The Associated Press

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