Lanistar says it aims to pay off its debts and won’t face insolvency as a key technology partner takes the Instagram-promoted fintech to court over unpaid bills.

The London fintech was hit with a winding-up petition by Global Processing Services, its payments issuer processor. A winding-up petition is brought by a creditor who is seeking to liquidate a company that owes it money. If the petition is accepted by the courts, a winding-up order is granted and the company is liquidated.