A healthcare policy think tank founded by Newt Gingrich has filed for Chapter 7 bankruptcy.
The Center for Health Transformation, an organization with offices in Washington, D.C., St. Louis and Atlanta, has filed the necessary paperwork in U.S. Bankruptcy Court in Atlanta.
The think tank was seen as a sign of Gingrich’s clout in Washington. It is part of the vast empire of lucrative projects that he abandoned when he became a presidential candidate.
The organization, which describes itself as "a high-impact collaboration of private and public sector leaders committed to creating a 21st century intelligent health system that saves lives and saves money for all Americans," had grossed nearly $55 million since 2001, according to its website.
In its bankruptcy filing, obtained by the Atlanta Business Chronicle, the group says it has $50,001 to $100,000 in assets and $1 million to $10 million in liabilities.
Among the creditors listed are Gallup, Gingrich Productions and Moby Dick Airways, a private jet company that is a Gingrich favorite. Newt 2012, Gingrich’s presidential campaign, owed Moby Dick more than $75,000 as of the end of February.
