24 Info reports that a businessman from Skopje lost seven million EUR in the collapse of Eurostandard Bank. The bank owned  by Trifun Kostovski went bankrupt last week after years of mismanagement, which Kostovski blames on his own directors who he says were working in favor of a hostile take-over.

The news site reports that the businessman was seen desperate standing in front of the bank office, demanding to be reimbursed. Under the law, deposits of up to 30,000 EUR are covered. Anything above that can only be collected through the bankruptcy procedure. Given the relatively small size of Eurostandard Bank, it’s expected that its depositors will be reimbursed quickly through the joint fund all banks contribute to. But in the extreme case of this depositor, the bulk of his deposit will likely be lost.

The collapse of the bank caused a political scandal after it was revealed that Finance Minister Nina Angelovska withdrew her deposit of 250,000 EUR after she received prior warning that the bank is going down.