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)
