(CNN) USA Gymnastics has filed for bankruptcy as the 200,000-member organization struggles to recover from the Larry Nassar sexual abuse scandal.

The filing Wednesday will help "expedite an equitable resolution of the claims made by the survivors of sexual abuse perpetrated by Larry Nassar," USAG said. "We owe it to these brave women who have come forward."

The organization said the filing for bankruptcy protection doesn't change its day-to-day operations.

Attorney John Manly said that USAG's leadership "has proven itself to be both morally and financially bankrupt."

"This bankruptcy filing will suspend all lawsuits by Nassar survivors and their ongoing efforts to discover the truth about who at USA Gymnastics and the US Olympic Committee knew about Nassar's criminal conduct and failed to stop it," Manly said.