.EditorialThis material has actually been decided on, created and also edited due to the Finextra content crew based upon its own relevance as well as rate of interest to our neighborhood.According to an agent for the Vilnius Area Court, the bankruptcy call was produced after reviewing the firm's financial data as well as locating that kevin was "not able to fulfill its financial obligations on schedule".A bankruptcy instance has actually been opened due to the court of law as well as IS Group has been actually appointed as the insolvency administrator..Kevin has because announced that it prepares to strike the insolvency choice.The court of law decision notes a significant fall for the paytech organization which was when flagged as the fastetst increasing fintech in Central and also Eastern Europe.Kevin had additionally raised $65m from its several clients, featuring Accel as well as Eurazeo.The first signs of financial difficulty were actually observed in February when a record coming from on the web information web site Filtered mentioned that kevin had neglected to pay workers for 2 months - insurance claims which were refuted by the start-up..And after that in July, the Lithuanian reserve bank outlawed the company coming from taking on any kind of brand-new clients after increasing impatient at the firm's failure to file its own annual records on schedule. .