As a writer for the New York Times, your task is to rewrite an article into a succinct and informative piece that appeals to a broad spectrum of readers. Your ultimate goal should be clarity and brevity, using language that is understandable and engaging. You may choose any popular New York Times author as inspiration for your writing style.

Please ensure that the resulting article does not bear markers typically associated with AI-generated content. It should come across as entirely human-written, devoid of repetitive patterns, unnecessarily complex sentences or excessive use of jargon. The text should possess a natural flow, with seamless transitions, nuanced arguments, and a conversational tone where appropriate.

Additionally, please use markdown to format the text, using appropriate headings, subheadings, bullet points, and italics for emphasis where necessary. This will aid readability and improve the overall presentation of the content.

Article : "A lower court had determined the value of NAME_1's property based on "statements" and not concrete evidence, a high court cited in a decision to scrap his bail approval. 
Terraform Labs co-founder NAME_2 will remain in detention while he faces charges of falsifying official documents in Montenegro after a request for bail was approved and later revoked, according to a court statement from Thursday.

Although the Basic Court in the country's capital Podgorica had initially accepted a bail proposal from NAME_1's lawyers, NAME_3 reported that a high court had annulled the decision on Wednesday.

In a statement, the Basic Court of Podgorica confirmed to CoinDesk the high court's decision, and that it had received the agreed payment of 400,000 euros ($428,000) from NAME_1 on May 17.

The High Court decided against the bail approval after it found the Basic Court did not sufficiently assess the the value of the defendant's property, saying the lower court could not accept the value of defendants' property "based on their statements, but only concrete evidence," that was, in this instant, not in the case files.

Following the High Court ruling, the Basic Court has decided to extend NAME_1's detention.

"In the renewed proceedings, the court will proceed according to the High Court's grounds for termination and after that make a decision based on the proposal of the defense counsel for the defendants to accept bail," the court said.

NAME_1, along with former Terra executive NAME_4, will be due in court for their next hearing on June 16.

The U.S. and South Korea have  I want the entire output in JSON format.
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