Ebix stockholders ask court to appoint official equity committee

By Sarah Lizee

Olympia, Wash., Feb. 9 – A group of Ebix, Inc. stockholders have asked the U.S. Bankruptcy Court for the Northern District of Texas to appoint an official committee of equity holders.

The group holds about 17.82% of the issued and outstanding common shares of Ebix.

“The Ebix case presents the unusual Chapter 11 circumstance where an official equity committee should be appointed,” the group said in court documents.

“Ebix is solvent. This is established by numerous, powerful datapoints.”

The group said the U.S. trustee overseeing the case has received multiple other requests for appointment of an official equity committee, dating back to at least December.

“Any further delay in the appointment request poses substantial economic and procedural risks, thus necessitating this motion,” the group said.

Ebix is a Johns Creek, Ga.-based international supplier of on-demand software and e-commerce services to the insurance, financial, health care and e-learning industries. The company filed bankruptcy on Dec. 17 under Chapter 11 case number 23-80004.

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