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Gingrich’s Think Tank|Files for Bankruptcy

ATLANTA (CN) - Newt Gingrich's think tank, The Gingrich Group dba Center for Health Transformation, filed for bankruptcy Wednesday, listing 59 to 99 creditors, $50,000 to $100,000 in assets and $1 million to $10 million in debts.

The bare-bones Chapter 7 filing contains little information aside from the range of debts and assets and 13 pages of creditors - including Newt and Callista Gingrich, of McLean, Va.

Gingrich, who charged clients up to $200,000 a year for his advice, divested himself from the Group in May as he prepared to seek the Republican nomination for president.

But the Wall Street Journal reported Thursday that much of Gingrich's net worth stems from a $5 million promissory note from the Gingrich Group to Gingrich Productions Inc.

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