.EditorialThis content has been picked, produced and also edited by the Finextra editorial crew located upon its own significance and also passion to our community.According to a representative for the Vilnius District Court, the bankruptcy phone call was helped make after assessing the business’s economic records as well as finding that kevin was actually “incapable to meet its own financial responsibilities promptly”.A bankruptcy situation has actually levelled due to the court of law and IS Group has actually been selected as the insolvency administrator..Kevin has since revealed that it intends to appeal the bankruptcy choice.The court of law selection notes a dramatic succumb to the paytech organization which was actually the moment flagged as the fastetst expanding fintech in Central as well as Eastern Europe.Kevin had also increased $65m coming from its own various real estate investors, including Accel and also Eurazeo.The very first signs of financial trouble were actually found in February when a file from on-line information web site Sorted mentioned that kevin had failed to pay out workers for two months – cases which were actually shot down by the startup..And then in July, the Lithuanian central bank banned the provider from taking on any brand new clients after developing impatient at the business’s breakdown to submit its yearly reports in a timely manner. .