USA Gymnastics has reached a settlement agreement with the survivors of Larry Nassar as well as those sexually abused by others in power at the organization. According to USA Today's Nancy Armour, the $425 million proposal still requires full approval from survivors and creditors.
The agreement was filed in U.S. Bankruptcy Court for the Southern District of Indiana on Tuesday.
“After extensive discussions, this plan has been jointly proposed by USA Gymnastics and the Committee, and it is supported by many of the involved insurers,” USA Gymnastics said in a statement. “We anticipate that this plan will be confirmed later this year and greatly appreciate all parties’ efforts to get to this point.