LAST WORD

We’re not looking to close our doors. We absolutely will continue as a not-for-profit organization to serve our sport.”

Kathryn Carson, new chair of the USA Gymnastics board, on how the group is unable to settle lawsuits with hundreds of Larry Nassar survivors or fend off the U.S. Olympic Committee on its own, so it is looking to bankruptcy court for a bailout. By filing for Chapter 11, as the governing body did Wednesday in the U.S. Bankruptcy Court for the Southern District of Indiana, USA Gymnastics gets to hit the pause button on all “pending actions” it faces. The legal wranglings with survivors, the USOC’s efforts to revoke its national governing body status, even the almost $340,000 in severance it still owes former CEO Steve Penny — they all come to a halt.