EBIX INC: going-concern / distress — Bankruptcy court confirms Ebix Chapter 11 plan; common stock to be cancelled with no recovery

EBIX INC

Court confirmed Third Amended Joint Plan on Aug 2, 2024; equity holders receive no distribution.
Plan sponsor consortium (Eraaya Lifespaces, Vikas Lifecare, Vitasta Software) to fund at least $145M new money investment.
$3.5M contributed to GUC Recovery Pool for allowed non-lender unsecured claims.
Debtors reported $533M assets and $1.05B liabilities as of June 30, 2024.
Effective date pending satisfaction of all conditions precedent.

item 1.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

EBIX INC entered chapter 11 in United States Bankruptcy Court for the Northern District of Texas (petition 2023-12-17).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Northern District of Texas
Petition: 2023-12-17

Exact text from the filing

filed voluntary petitions under Chapter 11 of title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the Northern District of Texas

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Source: SEC EDGAR

accession 0001193125-24-196984

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