.EditorialThis content has actually been actually picked, generated as well as modified by the Finextra editorial crew based upon its importance as well as rate of interest to our neighborhood.Depending on to a spokesperson for the Vilnius Area Court of law, the bankruptcy phone call was actually created after evaluating the company's financial data as well as finding that kevin was "incapable to satisfy its own economic commitments on time".A personal bankruptcy situation has been opened by the court and also IS Group has been selected as the insolvency administrator..Kevin has since introduced that it intends to appeal the bankruptcy decision.The court choice marks a dramatic succumb to the paytech organization which was the moment flagged as the fastetst increasing fintech in Central as well as Eastern Europe.Kevin had also increased $65m from its various clients, including Accel and Eurazeo.The initial indications of economic challenge were seen in February when a document from internet headlines site Filtered explained that kevin had actually stopped working to pay for staff for two months - insurance claims which were quashed by the start-up..And then in July, the Lithuanian central bank banned the provider from handling any kind of new clients after growing impatient at the company's failure to submit its own yearly records on schedule. .