.EditorialThis web content has been chosen, made and edited by the Finextra editorial crew based upon its own importance as well as passion to our neighborhood.Depending on to a speaker for the Vilnius District Court, the insolvency call was made after evaluating the firm's financial records and also discovering that kevin was actually "incapable to satisfy its monetary responsibilities on schedule".An insolvency scenario has actually levelled by the court as well as IS Group has actually been designated as the bankruptcy manager..Kevin has considering that announced that it intends to appeal the bankruptcy selection.The court selection denotes an impressive succumb to the paytech company which was actually the moment hailed as the fastetst expanding fintech in Central as well as Eastern Europe.Kevin had actually also increased $65m coming from its numerous clients, consisting of Accel as well as Eurazeo.The 1st indications of monetary problem were seen in February when a document coming from on the web news website Sifted explained that kevin had stopped working to spend team for 2 months - claims which were quashed due to the start-up..And then in July, the Lithuanian reserve bank banned the company from taking on any new customers after expanding impatient at the firm's breakdown to file its annual records in a timely manner. .