The Constitutional Court agreed to examine the law on banks, under which small depositors in the failed Eurostandard Bank were reimbursed, but not those holding more than 30,000 EUR.
The law gives priority to the small deposit holders when a bank collapses, who are ensured by a solidarity fund supported by the state and all commercial banks. Holders of larger deposits initiated a challenge before the Constitutional Court, in an attempt to receive reimbursement as well.
The bank “collapsed” overnight after its management apparently gave loans to a number of shell companies linked to the ruling SDSM party including Zaev’s brother. Top officials of the Zaev regime, such as then Finance Minister Nina Angelovska, were tipped off in time and withdrew their deposits in the bank two days before it was shut down.
