Ebix Files Bankruptcy After Short-Seller Attacks, Debt Woes (1)

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.

Publicly traded Ebix is the parent of Indian fintech company EbixCash, which facilitates payments, foreign exchange and prepaid gift cards. The company’s nearly 200 affiliates outside the US are not included in the bankruptcy ...