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OT: USA Gymnastics moves to protect $50-100 million in assets by filling bankruptcy
Bankwalker
✭✭✭✭✭ Graduate
in Off Topic
They say that what insurance they have can handle the sexual abuse claims, but want to protect the $50-100 million in assets from the civil suits being filed by the young women who were victimized by the organization and Larry Nassar. I haven't seen how much insurance coverage the organization has, but I guaran-dayum-tee you that it's not $100 million.
This shouldn't be allowed. The victims of Larry Nassar should be allowed to drain every penny from USA Gymnastics. The taxpayers would likely need to inject new funds in to the system to keep a quality program running, but that sounds better than this shell game being played to keep the assets away from the girls in question.
Comments
espn.com/olympics/story/_/id/25461239/usa-gymnastics-files-chapter-11-bankruptcy-petition
Maybe the organization needs to die. People besides Nassar should be punished