Distressed Solutions: USA Gymnastics: A Brief Overview of the Bankruptcy Issues

In 2016, Rachel Denhollander and another former gymnast revealed that they had been sexually assaulted by Larry Nassar, a doctor working with USA Gymnastics. Since then, there have been over 250 identified victims of Dr. Nassar. Those claims have resulted in several high-level departures from USA Gymnastics, including the CEO and the replacement CEO. The U.S. Olympic Committee began decertification proceedings. Several sponsors have discontinued their relationship. USA Gymnastics is in a tailspin, and is looking to Chapter 11 for a solution. Our podcast will discuss the pros and cons of the bankruptcy filing, and some issues that USA Gymnastics may have to face as the case moves forward.
 

About Distressed Solutions
The Restructuring & Insolvency Group at K&L Gates prides itself on finding solutions for our clients who are facing all kinds of financial distress. Sometimes the client itself is in distress; more often, they have a customer, vendor, borrower, acquisition target, or a portfolio company that is. Our attorneys help clients find the best solutions for each and every one of these situations that minimizes downside risk and maximizes potential upside. This podcast will showcase those practitioners and how they have helped solve these problems.

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