USA Gymnastics Floats $215M Ch. 11 Fund For Nassar Victims

Law360 (January 30, 2020, 10:12 PM EST) -- USA Gymnastics on Thursday proposed a Chapter 11 plan that would create a $215 million settlement fund for hundreds of women who say the sport's national governing body looked the other way for decades while former team doctor Larry Nassar was abusing them.

In the plan filed in Indiana bankruptcy court, USA Gymnastics proposes to fund the settlement payments through the proceeds of insurance policies issued by CGL Insurance. The plan would also require the gymnasts to release both the organization and the U.S. Olympic and Paralympic Committee from liability related to the claims.

The plan comes more than a year...

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