Tags: Gingrich | think | tank | bankruptcy | health | care

Gingrich’s Healthcare Think Tank Files for Liquidation

By Dan Weil   |   Thursday, 05 Apr 2012 12:55 PM

The healthcare think tank begun by Republican presidential candidate Newt Gingrich has filed for Chapter 7 bankruptcy, which means liquidation, the Atlanta Business Chronicle reports.

Gingrich started the Center for Health Transformation in 2003 and divested his stake in the for-profit organization in May 2011 before announcing his run for president, Stefan Passantino, a lawyer for the former House speaker who also served as counsel for the think tank, told The Atlanta Journal-Constitution.

The think tank has offices in Washington, D.C., Atlanta, and St. Louis. Gingrich hasn’t been involved in the company’s operations for almost a year, Passantino said, the Journal-Constitution reported. The bankruptcy filing “has no involvement with his campaign, and, if anything, goes to show how important his leadership was [to the think tank] flourishing,” the lawyer stressed.

Unsecured creditors of the center include Gingrich and his wife Callista; their film company, Gingrich Productions; Aflac and other insurance and healthcare firms; UPS; and the high-powered Atlanta law firm McKenna Long & Aldridge.

In its bankruptcy filing, the center cited liabilities of $1 million to $10 million, and 50 to 90 creditors. Political observers told the Chronicle that the negative publicity from this will doom Gingrich’s presidential campaign.





© 2015 Newsmax. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved