Trying to get out of paying damages, methinks.........
Typically bankruptcy is used to protect a company from their creditors because they don't have enough money to pay all of their bills. The company gets X debt written off as they reorganize themselves to be fiscally sustainable.
The article states that the abuse claims are covered by their insurance companies...so why the need for bankruptcy protection against their creditors?
I wish the survivors recovery, wonderful lives, gigantic buttloads of money and victory against evil. The survivors are national heroes for coming forward.
I'm delighted to hear Nassar will die in prison for his sick crimes. The university and US Gymnastics deserve all this for having not protected these children. I don't give a flip what happens to these crooked and sick organizations that turned the other way when children were abused. May both corporations' executive board officers never work again and panhandle on the streets. After they have watched thousands of videos of the testimonies, plights and lifelong damage endured by children who have been assaulted. And the executives need to watch the videos every day for a year. Then the retched poverty, homeless and lifelong societal shame.Nah, that never happens to rich people.