EX-99.8

/s/ Amit K. Garg

Amit K. Garg

Signature of Responsible Party

Printed Name of Responsible Party

Chief Financial Officer

Exhibit 99.8

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SIDLEY AUSTIN LLP
Thomas R. Califano (24122825)
Rakhee V. Patel (00797213)
Jeri Leigh Miller (24102176)
2021 McKinney Avenue, Suite 2000
Dallas, Texas 75201
Telephone:		(214) 981-3300
Facsimile:		(214) 981-3400
Email:		tom.califano@sidley.com
		rpatel@sidley.com
		jeri.miller@sidley.com


SIDLEY AUSTIN LLP
Andres Barajas (admitted pro hac vice)
Weiru Fang (admitted pro hac vice)
787 Seventh Avenue
New York, New York 10019
Telephone:		(212) 839-5300
Facsimile:		(212) 839-5599
Email:		andres.barajas@sidley.com
		weiru.fang@sidley.com

Attorneys for the Debtors and

Debtors in Possession

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE NORTHERN DISTRICT OF TEXAS

DALLAS DIVISION



In re:		Chapter 11

EBIX, INC., et al.¹		Case No. 23-80004 (SWE)

Debtors.		(Jointly Administered)

The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, as applicable, are: Ebix, Inc. (1975), Vertex, Incorporated (6295), P.B. Systems, Inc. (9074), Ebix Consulting, Inc. (6666), Ebix US, LLC (N/A), Facts Services, Inc. (1348), Doctors Exchange, Inc. (N/A), Ebix International LLC (N/A), Agency Solutions.com, LLC d/b/a Health Connect LLC (N/A), ConfirmNet Corporation (2737), A.D.A.M., Inc. (8070), and Ebix Latin America, LLC (N/A). The Debtors’ mailing address is 1 Ebix Way, Johns Creek, Georgia 30097.

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GLOBAL NOTES FOR THE

FEBRUARY 2024 MONTHLY OPERATING REPORTS

On December 17, 2023, (the “Petition Date”) Ebix, Inc. and its affiliated debtors in the above-captioned chapter 11 cases (each a “Debtor” and, collectively, the “Debtors”) commenced voluntary cases (the “Chapter 11 Cases”) under chapter 11 of title 11, United States Code, §§ 101 et seq. (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Northern District of Texas (the “Court”).

The Debtors continue to operate their business and manage their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. The Chapter 11 Cases have been consolidated for procedural purposes only and are being jointly administered under case number 23-80004 (SWE).

General Methodology: The Debtors are filing this monthly operating report (the “MOR”) solely for purposes of complying with the monthly operating requirements of the Debtors’ Chapter 11 Cases. The financial information contained herein is unaudited, limited in scope, and as such, has not been subjected to procedures that would typically be applied to financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The MOR should not be relied on by any persons for information relating to current or future financial condition, events, or performance of any of the Debtors or their affiliates, as the results of operations contained herein are not necessarily indicative of results that may be expected from any other period or for the full year, and may not necessarily reflect the combined results of operations, financial position, and schedule of receipts and disbursements in the future. There can be no assurance that such information is complete, and the MOR may be subject to revision. The following notes, statements, and limitations should be referred to, and referenced in connection with, any review of the MOR.

Basis of Presentation: For financial reporting purposes, the Debtors prepare consolidated financial statements, which include information for Ebix, Inc., and its Debtor affiliates. This MOR only contains financial information of the Debtors, and has been prepared on a condensed combined basis. The Debtors are maintaining their books and records in accordance with U.S. GAAP and the information furnished in this MOR uses the Debtors’ normal accrual method of accounting. In preparing the MOR, the Debtors relied on financial data derived from their books and records that was available at the time of preparation. Nevertheless, in preparing this MOR, the Debtors made reasonable efforts to supplement the information set forth in their books and records with additional information concerning transactions that may not have been identified therein. The Debtors have not separately classified the assets held for sale following entry of the order approving the sale of the Debtors’ North American life and annuity assets. Subsequent information or discovery may result in material changes to the MOR and errors or omissions may exist. Notwithstanding any such discovery, new information, or errors or omissions, the Debtors do not undertake any obligation or commitment to update this MOR. Due to subsequent information obtained, the financial statements and certain of the cumulative amounts presented in this MOR reflect adjustments made to the financial statements contained in the previously filed December 2023 monthly operating reports. The financial statements


		2

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presented herein reflect the book values of the Debtor entities of Ebix, Inc., and, as a result, do not reflect the going concern valuation of the Debtors. The Company is not liable for and undertakes no responsibility to indicate variations from securities laws or for any evaluations of the Company based on this financial information or any other information.

3.	Reporting Period: Unless otherwise noted herein, the MOR generally reflects the Debtors’ books and records and financial activity occurring during the applicable reporting period.

Accuracy: The financial information disclosed herein was not prepared in accordance with federal or state securities laws or other applicable nonbankruptcy law or in lieu of complying with any periodic reporting requirements thereunder. Persons and entities trading in or otherwise purchasing, selling, or transferring the claims against or equity interests in the Debtors should evaluate this financial information in light of the purposes for which it was prepared. The Debtors are not liable for and undertake no responsibility to indicate variations from securities laws or for any evaluations of the Debtors based on this financial information or any other information.

5.	Investments in Subsidiaries: The book basis for investments in subsidiaries are not representative of the fair value or net assets of Debtor and non-debtor subsidiaries.

Payments of Prepetition Claims Pursuant to First Day Orders: Following the Petition Date, the Court entered certain orders authorizing, but not directing, the Debtors to, among other things, pay certain (a) insurance obligations; (b) employee wages, salaries, additional compensation, contractor obligations, and employee benefit programs; (c) taxes and fees; (d) utilities; (e) service charges and other fees, costs, and expenses charged by the Debtors’ cash management banks; and (f) certain critical vendor payments.

Insiders: For purposes of this MOR, the Debtors defined “insiders” pursuant to section 101(31) of the Bankruptcy Code as: (a) directors; (b) officers; (c) persons in control of the Debtors; (d) relatives of the Debtors’ directors, officers, or persons in control of the Debtors; and (e) Debtor and non-Debtor affiliates of the foregoing. Moreover, the Debtors do not take a position with respect to: (a) any insider’s influence over the control of the Debtors; (b) the management responsibilities or functions of any such insider; (c) the decision making or corporate authority of any such insider; or (d) whether the Debtors or any such insider could successfully argue that he or she is not an “insider” under applicable law, with respect to any theories of liability, or for any other purpose.

8.	Payments to Insiders: All payments made by the Debtors to “Insiders,” as such term is defined in 11 U.S.C. § 101(31), included wage compensation and benefits in the ordinary course due to those individuals. This information is available upon request.

Postpetition Borrowing: Following the Petition Date, the Court approved debtor-in-possession borrowing as set forth in the Final Order (I) Authorizing (A) Postpetition Financing, and (B) The Use of Cash Collateral; (II) Granting Liens and Providing Superpriority Administrative Expense Claims; (III) Granting Adequate Protection to Prepetition Lenders; (IV) Modifying the Automatic Stay; and (V) Granting Related Relief [Docket No. 255].


		3

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10.

Interest on Prepetition Borrowing: The Debtors are unable to determine whether it is probable that interest on prepetition borrowing for the period following the Petition Date will be an allowed claim. As a result, interest on prepetition borrowing has not been accrued in the financial information herein.

11.	Bank Accounts: All the bank accounts were established prefiling in the name of Ebix, Inc. All of these bank accounts are utilized for all of the Debtors.

12.	Internal Transfers: Internal transfers between the Debtors are not included as receipts in the financial statements for each Debtor. Because the monthly operating reports have not been prepared on a consolidated basis, this has resulted in negative cash balances for some Debtors.

13.	Estimation of Claims: The amounts of Secured, Unsecured, and Priority Claims reported in the MOR are estimated based on the Debtors’ available information.

14.

Payments To or On Behalf of Nonbankruptcy Professionals. Although all payments made to or on behalf of nonbankruptcy professionals were approved by the Court pursuant to the Order (I) Authorizing the Debtors to Retain and Compensation Professionals in the Ordinary Course of Business and (II) Granting Related Relief [Docket No. 295], the objection period for certain of these ordinary course professionals has not yet passed as of the filing of this MOR.

15.	Attachments and Exhibits: Bank statements and other supporting documents and exhibits for all Debtors are attached to the MOR of Ebix, Inc. Any documents, exhibits, or statements attached to the MOR of Ebix, Inc. are incorporated by reference into the MOR for all Debtors.

16.

Reservation of Rights: The Debtors reserve all rights to amend or supplement the MOR in all respects, as may be necessary or appropriate, but shall be under no obligation to do so. Nothing contained in this MOR shall constitute a waiver of any of the Debtors’ rights or an admission with respect to their Chapter 11 Cases.

* * * END OF GLOBAL NOTES * * *


		4

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UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DALLAS


In Re. Ebix International LLC		§	Case No.	23-80010
		§
		§	Lead Case No.	23-80004
	Debtor(s)	§
			☒ Jointly Administered


Monthly Operating Report				Chapter 11


Reporting Period Ended:		02/29/2024				Petition Date:		12/17/2023


Months Pending: 2				Industry Classification:		5		1		8		2


Reporting Method:		Accrual Basis		Cash Basis


Debtor’s Full-Time Employees (current):		0

Debtor’s Full-Time Employees (as of date of order for relief):		0

Supporting Documentation (check all that are attached):

(For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor)

☐ Statement of cash receipts and disbursements

☐ Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit

☐ Statement of operations (profit or loss statement)

☐ Accounts receivable aging

☐ Postpetition liabilities aging

☐ Statement of capital assets

☐ Schedule of payments to professionals

☐ Schedule of payments to insiders

☐ All bank statements and bank reconciliations for the reporting period

☐ Description of the assets sold or transferred and the terms of the sale or transfer


/s/ Amit K. Garg				Amit K. Garg
Signature of Responsible Party				Printed Name of Responsible Party

03/21/2024				1 Ebix Way
Date				Johns Creek, GA 30097
				Address

STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies.


UST Form 11-MOR (12/01/2021)		1

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Debtor’s Name Ebix International LLC		Case No. 23-80010


Part 1: Cash Receipts and Disbursements	Current Month		Cumulative
a. Cash balance beginning of month	$	0

b. Total receipts (net of transfers between accounts)	$	0	$	0

c. Total disbursements (net of transfers between accounts)	$	0	$	0

d. Cash balance end of month (a+b-c)	$	0

e. Disbursements made by third party for the benefit of the estate	$	0	$	0

f. Total disbursements for quarterly fee calculation (c+e)	$	0	$	0


Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.)	Current Month
a. Accounts receivable (total net of allowance)	$	0

b. Accounts receivable over 90 days outstanding (net of allowance)	$	0

c. Inventory ( Book Market Other (attach explanation))	$	0

d Total current assets	$	0

e. Total assets	$	0

f. Postpetition payables (excluding taxes)	$	0

g. Postpetition payables past due (excluding taxes)	$	0

h. Postpetition taxes payable	$	0

i. Postpetition taxes past due	$	0

j. Total postpetition debt (f+h)	$	0

k. Prepetition secured debt	$	0

l. Prepetition priority debt	$	0

m. Prepetition unsecured debt	$	0

n. Total liabilities (debt) (j+k+l+m)	$	0

o. Ending equity/net worth (e-n)	$	0


Part 3: Assets Sold or Transferred	Current Month		Cumulative
a. Total cash sales price for assets sold/transferred outside the ordinary course of business	$	0	$	0

b. Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business	$	0	$	0

c. Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b)	$	0	$	0


Part 4: Income Statement (Statement of Operations) (Not generally applicable to Individual Debtors. See Instructions.)	Current Month		Cumulative
a. Gross income/sales (net of returns and allowances)	$	0

b. Cost of goods sold (inclusive of depreciation, if applicable)	$	0

c. Gross profit (a-b)	$	0

d. Selling expenses	$	0

e. General and administrative expenses	$	0

f. Other expenses	$	0

g. Depreciation and/or amortization (not included in 4b)	$	0

h. Interest	$	0

i. Taxes (local, state, and federal)	$	0

j. Reorganization items	$	0

k. Profit (loss)	$	0	$	0


UST Form 11-MOR (12/01/2021)		2

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Debtor’s Name Ebix International LLC		Case No. 23-80010

Part 5: Professional Fees and Expenses

Approved
Current Month

Approved
Cumulative

Paid Current
Month

Paid
Cumulative

Debtor’s professional fees & expenses (bankruptcy) Aggregate Total

Itemized Breakdown by Firm

Firm Name

Role

iii

vii

viii

xii

xiii

xiv

xvi

xvii

xviii

xix

xxi

xxii

xxiii

xxiv

xxv

xxvi

xxvii

xxviii

xxix

xxx

xxxi

xxxii

xxxiii

xxxiv

xxxv

xxxvi


UST Form 11-MOR (12/01/2021)		3

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Debtor’s Name Ebix International LLC		Case No. 23-80010

xxxvii

xxxviii

xxxix

xli

xlii

xliii

xliv

xlv

xlvi

xlvii

xlviii

xlix

lii

liii

liv

lvi

lvii

lviii

lix

lxi

lxii

lxiii

lxiv

lxv

lxvi

lxvii

lxviii

lxix

lxx

lxxi

lxxii

lxxiii

lxxiv

lxxv

lxxvi

lxxvii

lxxviii


UST Form 11-MOR (12/01/2021)		4

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Debtor’s Name Ebix International LLC		Case No. 23-80010

lxxix

lxxx

lxxxi

lxxxii

lxxxiii

lxxxiv

lxxxv

lxxxvi

lxxxvii

lxxxviii

lxxxix

xci

xcii

xciii

xciv

xcv

xcvi

xcvii

xcviii

xcix

Approved
Current Month

Approved
Cumulative

Paid Current
Month

Paid
Cumulative

Debtor’s professional fees & expenses (nonbankruptcy) Aggregate Total

Itemized Breakdown by Firm

Firm Name

Role

iii

vii

viii

xii

xiii

xiv


UST Form 11-MOR (12/01/2021)		5

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Debtor’s Name Ebix International LLC		Case No. 23-80010

xvi

xvii

xviii

xix

xxi

xxii

xxiii

xxiv

xxv

xxvi

xxvii

xxviii

xxix

xxx

xxxi

xxxii

xxxiii

xxxiv

xxxv

xxxvi

xxxvii

xxxviii

xxxix

xli

xlii

xliii

xliv

xlv

xlvi

xlvii

xlviii

xlix

lii

liii

liv

lvi


UST Form 11-MOR (12/01/2021)		6

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Debtor’s Name Ebix International LLC		Case No. 23-80010

lvii

lviii

lix

lxi

lxii

lxiii

lxiv

lxv

lxvi

lxvii

lxviii

lxix

lxx

lxxi

lxxii

lxxiii

lxxiv

lxxv

lxxvi

lxxvii

lxxviii

lxxix

lxxx

lxxxi

lxxxii

lxxxiii

lxxxiv

lxxxv

lxxxvi

lxxxvii

lxxxviii

lxxxix

xci

xcii

xciii

xciv

xcv

xcvi

xcvii

xcviii


UST Form 11-MOR (12/01/2021)		7

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Debtor’s Name Ebix International LLC		Case No. 23-80010


	xcix
	c
c.	All professional fees and expenses (debtor & committees)	$0	$0	$0	$0


Part 6: Postpetition Taxes	Current Month		Cumulative
a. Postpetition income taxes accrued (local, state, and federal)	$	0	$	0

b. Postpetition income taxes paid (local, state, and federal)	$	0	$	0

c. Postpetition employer payroll taxes accrued	$	0	$	0

d. Postpetition employer payroll taxes paid	$	0	$	0

e. Postpetition property taxes paid	$	0	$	0

f. Postpetition other taxes accrued (local, state, and federal)	$	0	$	0

g. Postpetition other taxes paid (local, state, and federal)	$	0	$	0


Part 7: Questionnaire - During this reporting period:
a. Were any payments made on prepetition debt? (if yes, see Instructions)		Yes	No
b. Were any payments made outside the ordinary course of business without court approval? (if yes, see Instructions)		Yes	No
c. Were any payments made to or on behalf of insiders?		Yes	No
d. Are you current on postpetition tax return filings?		Yes	No
e. Are you current on postpetition estimated tax payments?		Yes	No
f. Were all trust fund taxes remitted on a current basis?		Yes	No
g. Was there any postpetition borrowing, other than trade credit? (if yes, see Instructions)		Yes	No
h. Were all payments made to or on behalf of professionals approved by the court?		Yes	No N/A
i. Do you have:	Worker’s compensation insurance?	Yes	No
	If yes, are your premiums current?	Yes	No N/A (if no, see Instructions)
	Casualty/property insurance?	Yes	No
	If yes, are your premiums current?	Yes	No N/A (if no, see Instructions)
	General liability insurance?	Yes	No
	If yes, are your premiums current?	Yes	No N/A (if no, see Instructions)

j. Has a plan of reorganization been filed with the court?		Yes	No
k. Has a disclosure statement been filed with the court?		Yes	No
l. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. § 1930?		Yes	No


UST Form 11-MOR (12/01/2021)		8

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Debtor’s Name Ebix International LLC		Case No. 23-80010


Part 8: Individual Chapter 11 Debtors (Only)
a. Gross income (receipts) from salary and wages	$	0

b. Gross income (receipts) from self-employment	$	0

c. Gross income from all other sources	$	0

d. Total income in the reporting period (a+b+c)	$	0

e. Payroll deductions	$	0

f. Self-employment related expenses	$	0

g. Living expenses	$	0

h. All other expenses	$	0

i. Total expenses in the reporting period (e+f+g+h)	$	0

j. Difference between total income and total expenses (d-i)	$	0

k. List the total amount of all postpetition debts that are past due	$	0

l. Are you required to pay any Domestic Support Obligations as defined by 11 U.S.C § 101(14A)?		Yes No
m. If yes, have you made all Domestic Support Obligation payments?		Yes No N/A

Privacy Act Statement

28 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C.

§§ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor’s progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee’s or examiner’s duties or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee’s systems of records notice, UST-001, “Bankruptcy Case Files and Associated Records.” See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http:// www.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F).

I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate.


UST Form 11-MOR (12/01/2021)		9

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Debtor’s Name Ebix International LLC		Case No. 23-80010

LOGO


UST Form 11-MOR (12/01/2021)		10

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Debtor’s Name Ebix International LLC		Case No. 23-80010

LOGO


UST Form 11-MOR (12/01/2021)		11

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Debtor’s Name Ebix International LLC		Case No. 23-80010

LOGO


UST Form 11-MOR (12/01/2021)		12