Ebix Files for Chapter 11 Bankruptcy Protection In Northern Texas: Report

Nasdaq-listed Ebix Inc has filed for Chapter 11 bankruptcy protection in Northern Texas, according to a Bloomberg report citing court filing.

Its estimated liabilities stand at $500 million-$1 billion, while its estimated assets are also at $500 million-$1 billion.

Ebix has to repay a large chunk of a $600 million credit facility. The deadline, after multiple extensions in the past two years, now ends on December 18.

In view of this, Ebix’s future looks uncertain.

(This is a developing story)