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USA Gymnastics files for bankruptcy

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In the wake of the Larry Nassar sexual abuse scandal, USA Gymnastics on Wednesday filed for bankruptcy.

Through the Chapter 11 process, the gynastics governing body plans to better handle dozens of civil lawsuits related to the abuse by Nassar, USA Gymnastics' former national medical coordinator who was convicted of assaulting patients.

"We owe it to the survivors to resolve, fully and finally, claims based on the horrific acts of the past," said Kathryn Carson, chairwoman of the USA Gymnastics board.

Read more from ESPN.

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