Sabadell to avoid hefty payment after Spanish court cuts bail for CAM case

April 7, 2016 4:53 PM

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MADRID, April 7 Sabadell will not now face a hefty payment towards bail for eight former executives of now defunct bank CAM after a judge reduced the amount to a fraction of the 1.6 billion euros ($1.8 billion) originally ordered.

The court had said on Wednesday that the eight former executives of savings bank Caja de Ahorros del Mediterraneo or CAM would stand trial for allegedly concealing the bank's deteriorating finances during Spain's banking crisis to keep their bonuses safe. The trial does not yet have a start date.

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