Contact Us

Bold labels are required.

NameThis field is required.


The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
Free Case Evaluation
View Our Practice Areas

Will debt relief keep USA Gymnastics from being decertified?

Gymnastics enthusiasts in Louisiana and throughout the nation are likely familiar with USA Gymnastics, the national governing body for the sport. Chairwoman for the board of directors in the organization recently announced that board members have made a collective decision to file for Chapter 11 bankruptcy as a means of immediate debt relief. Chapter 11 is one of numerous types of bankruptcy that often help struggling businesses stay afloat. 

In the case of USA Gymnastics, extenuating circumstances have placed the organization in a position where its certification is at risk for being revoked. The situation involves a medical doctor who, for years, tended to the health needs of the organization's athletes. Sadly, more than 300 of those athletes have filed 100 lawsuits against USA Gymnastics because of the doctor's alleged inappropriate conduct while carrying out his medical duties toward the gymnasts.  

The lawsuits state that USA Gymnastics should be held legally accountable for failing to supervise the team doctor. The chairwoman who recently spoke about the organization's bankruptcy filing said that the type of bankruptcy chosen is not a liquidation but a financial restructuring program. She also stated that the board believes the action was imperative toward helping the organization avoid decertification while also providing funds (through insurance) to settle the current lawsuits.  

Chapter 11 debt relief is not the only type of bankruptcy that often activate a stay against litigation. For instance, if a Louisiana homeowner is facing threat of foreclosure, there may be bankruptcy options available to save his or her home. One can seek more information about such programs by reaching out for support from an experienced bankruptcy law attorney.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Office Locations

Shreveport Office
4700 Line Avenue, Suite 200
Shreveport, LA 71106
Fax: 318-868-8966

Map & Directions

Shreveport Office

Alexandria Office
1118 3rd Street
Alexandria, LA 71301
Phone: 318-224-0340
Fax: 318-868-8966

Map & Directions

Alexandria Office

Lafayette Office
2901 Johnston Street, Suite 202
Lafayette, LA 70503
Phone: 337-205-0492
Fax: 337-456-5465

Map & Directions

Lafayette Office