Jan. 30 (UPI) -- USA Gymnastics filed a plan on Thursday to pay survivors of Larry Nassar's sexual abuse $215 million to settle their lawsuits against the governing body.
The settlement offer, filed with the U.S. Bankruptcy Court for the Southern District of Indiana as part of USA Gymnastic's plan to emerge from bankruptcy would ask survivors to vote on whether to accept the amount the body's insurers are willing to pay to settle the claims.
Survivors would also be provided the option to pursue lawsuits and collect the compensation insurers for USA Gymnastics would make available.
USA Gymnastics president and CEO Li Li Leung said the organization's hop with the plan was to bring all parties back to the negotiating table.
"We're hopeful that mediation will continue," she said. "At the end of the day, the only meaningful assets we have to offer are our insurance policies."
Attorneys John Manly and Jon Little, who represent many of the survivors said the $215 million offer was not enough compensation for the 350 girls and young women, including Olympic champions Simone Biles, Aly Raisman, Gabby Douglas and McKayla Maroney, who said they were abused by Nassar.
"This amount won't even cover the therapy that these women need, probably for the rest of their lives and the excruciating emotional toll and pain," Manly said. "It's just one more punch in the gut."
USA Gymnastics filed for Chapter 11 bankruptcy in 2018 in order to enable it to expedite resolution of claims by the Nassar survivors covered by various insurance policies.
Nassar is serving a life sentence after being convicted in state and federal courts for sexually abusing hundreds of women.