.EditorialThis information has actually been selected, generated as well as modified due to the Finextra content team located upon its significance and also rate of interest to our neighborhood.According to a speaker for the Vilnius Area Court of law, the insolvency phone call was actually produced after evaluating the provider's economic information and also discovering that kevin was "not able to meet its own economic commitments in a timely manner".A personal bankruptcy instance has levelled by the court and is actually Group has actually been appointed as the insolvency supervisor..Kevin has actually since announced that it considers to appeal the insolvency decision.The court of law selection notes an impressive succumb to the paytech agency which was actually once addressed as the fastetst expanding fintech in Central and also Eastern Europe.Kevin had additionally reared $65m coming from its different real estate investors, featuring Accel as well as Eurazeo.The initial indicators of monetary problem were viewed in February when a report from online updates website Sorted stated that kevin had actually neglected to pay out personnel for pair of months - claims which were refuted by the start-up..And then in July, the Lithuanian central bank outlawed the company coming from handling any kind of brand-new customers after growing impatient at the provider's failure to submit its own yearly records on time. .