USA Gymnastics seeks two-month extension of exclusive plan periods

By Caroline Salls

Pittsburgh, July 1 – USA Gymnastics is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Indiana.

USA Gymnastics is asking the court to extend its exclusive filing period by 60 days through Oct. 4 and the solicitation period through Dec. 2.

According to the motion, USA Gymnastics has in excess of 500 creditors, the majority of them survivors of sexual abuse.

The organization said it intends to negotiate a consensual plan with the survivors but cannot do so until mediation is complete.

The Indianapolis-based gymnastics organization filed bankruptcy on Dec. 5 under Chapter 11 case number 18-09108.

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