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      "text": "we estimate that the Bubny Landbank's value is overstated by ~€138 million, or ~100%.",
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      "text": "With a carrying value of €1,378 per square meter (~€277 million total) and a recalculated value of ~€690 per square meter (~€138.7 million), we estimate that the Bubny Landbank's value is overstated by ~€138 million, or ~100%.",
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      "text": "The Bubny Landbank—a brownfield in Prague—seems wildly overvalued, and the fact pattern suggests that this overvaluation was encouraged by manipulative business practices at CPI PG.",
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      "text": "Bubny Landbank — Recap",
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