Ebix Files Bankruptcy After Short-Seller Attacks, Debt Woes
- Firm is parent of Indian fintech and payments company EbixCash
- Insurance business slated to be sold for at least $400 million
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Insurance software firm and short seller target Ebix Inc. filed for bankruptcy after struggling to bounce back from high interest rates and looming debt payments.
The Johns Creek, Georgia-based firm listed assets and liabilities of at least $500 million each in a Chapter 11 petition filed in Texas. The filing protects the company from creditors while it seeks court approval of a plan to repay them.