Leaders hope to redevelop the property for better use. That mallclosed permanently in 2019. At that point, management of the mall was taken up by ProEquity Asset Management Corp. before the sale to the Kohan group. WebFinance Department. With the closing of many large anchor stores around the country in the past decade, those large spaces offer unique opportunities for venues of all different types:galas, expos, concerts, arcades, miniature golf, and others have found their homes at some of these spaces at our malls. WebKohan in March 2021 owed $320,000 in back taxes on The Esplanade. Authorities in Vero Beach, Florida,threatened to cut off power to Kohans Indian River Mall after the company failed to pay its electric bills for three months. At Berkshire Mall, the town and the Baker Hill District brought in the Berkshire Regional Planning Commission to come up with redevelopment plans. slumlord. Feb. 15HARLINGEN Valle Vista Mall, purchased by the Kohan Retail Investment Group in 2018, is back on the market. We are looking at nontraditional uses of that property, he said. Hes done it before. The mall was slated for demolition in 2012. "Hundreds upon hundreds of regional malls no longer have the financial resources to make this type of transformation," Lindsey said. They did not even have workers comp insurance at some of their properties even though they are legally required. The retail landscape has changed, but many shopping malls have not. Derek Gee SUBSCRIBE: $1 for 3 months Then theres the Lycoming Mall in Pennsdale, Pennsylvania, where Kohan paid $58,900 in January to settle delinquent water and sewer bills and stop an auction, according to the Lycoming County Sheriff. Sikes Senter sold to New York-based investment group Kohan Retail, Goodbye, Chapel Hill Mall. Finally, one place to get all the court documents we need. Kohan said this week that hes working on redevelopment plans for the Berkshire Mall as well. [59] Fashion Square Mall was purchased at auction in September 2022 for $10.8 million. An affidavit from Benderson Development filed Wednesday complains that Newmark did not give Benderson a chance to submit an offer on the property, and that Benderson is prepared to offer a "significantly higher bid" than Kohan's. Kohan finalized the purchase from Sure Fire Group LLC, a group of local investors, for $10.2 million on Tuesday, paying $4 million of the total price with cash, said Ste. Why is this public record being published online? [43], The Outlets of Little Rock were purchased for $10 million in January 2021. Website. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, attorney Raymond Fink,a partner at Lippes Mathias Wexler Friedman who is representing the Town of Hamburg, Sabres place Alex Tuch on injured reserve; top-line winger's status is uncertain, Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone. [1] After purchasing Woodville Mall in 2009, it was closed in December 2011 by court order, and demolished by Northwood, Ohio in March 2014 due to its poor material condition. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Rotterdam Square Mall near Schenectady had its power shut off over an unpaid $300,000 electric bill. 2022-12-14, Seminole County Courts | Personal Injury | The company has listed it now for $12 million. Today, the 86-acre property has just 17 tenants. [95] It was later condemned in June 2020 due to numerous serious issues. [5] Lake Square Mall was purchased in March 2014 for $13.28 million, but would be sold to Via Properties in September with Kohan remaining manager. 5:20-CV-04906 | 2020-10-05. Despite Kohans protestations, the power remained off and the mall remained closed Wednesday. YouTubes privacy policy is available here and YouTubes terms of service is available here. It is looking into restructuring its $715 million debt on its Syracuse mall, Destiny USA. [6] Kohan purchased the Jamestown Mall in 2009 for $3.3 million. And while outlet malls tend to fare better than traditional malls during times of economic downturn, Fashion Outlets of Niagara Falls USA owner Macerich recently sought and received a three-year loan extension to put off payment until 2023. 5:21-CV-00706 | 2021-02-16, U.S. District Courts | Civil Right | The Kohan group has purchased more than 20 malls nationwide, with a business plan to improve those properties and stabilize them financially. Despite that improvement, the mall may well be in financial trouble. [74] The mall was sold to 7&41 LLC in May 2015. There was a problem saving your notification. California Consumer Limit the Use of My Sensitive Personal Information, California Consumer Do Not Sell or Share My Personal Information. New York-based Kohan, known for buying up troubled malls, landed half of the Burnsville Center property at auction for about $17 million a fraction of the $64.2 million owed on the property. Kohan also owns the Great Northern Mall in Clay, N.Y., where he owes $3.4 million in delinquent taxes, with a tax auction looming in 2021 if the debt is not resolved, according to the Onondaga CountyProperty Tax Service records. 3:22-CV-01203 | 2022-08-02, Riverside County Superior Courts | Personal Injury | [30] Towne West Square was purchased for $14 million in July 2019. [14] Macerich sold Rotterdam Square Mall to Kohan for $8.5 million on January 15, 2014. Copyright 2022 WIBW. The bill was paid the day electric was to be shutoff. [80], Mayberry Mall was almost closed on February 1, 2018 by local government officials due to roof and mold issues. The lawsuit is known as Bautista v. Valero Marketing and Supply Company , Case No. "If the court authorizes the purchase, Hamburg will do what it can to facilitate a successful experience.". If you do not agree with these terms, then do not use our website and/or services. [16], Lycoming County Water and Sewer Authority placed Lycoming Mall on the February 2019 sheriff's sale list due to unpaid bills. None.. terrible job with no benefits, huge expectations for minimum wage. On my behalf as County Treasurer, a civil lawsuit was filed against Southbridge Mall Realty Holding, LLC for the delinquent real estate taxes and interest on the buildings and improvements known locally as Southbridge Mall.Prior to Fiscal Year 2017-2018, the Southbridge Mall buildings and improvements were taxed as separate parcels from the I can not think of anything negative to say about this employer. So what does Sabres GM Kevyn Adams do this week? Some of those properties have had some successes. Nobody bid, so the local parish now owns the mall. [49] Oak View Mall was purchased for $7.5 million in April 2021. [52] Kohan purchased the Triangle Town Center for $33.25 million in November 2021. Daniel Galvan, a Coldwell Banker commercial broker based in McAllen, is handling the sale. The It is the duty of Hamburg officials to ensure the next owner is not just going to purchase the property and allow it to fall into disrepair an. Kohan paid the bill two hours before the deadline and was required to pay a $210,000 deposit. Friendly workplace, hardworking staff, great support from management. Sorry, there are no recent results for popular commented articles. [66] Lincoln Mall was demolished starting in May 2017. Always pushing forward to develop the best. In Richmond, Ohio, developer DealPoint Merrill purchased an old Sears and 22 acres of parking lot at the Richmond Town Center Mall last year. [39] Kohan later sold another Virginia Center Commons anchor building for $4.1 million to Impact Investments Group LLC in April 2020. Verify your email to use filters. Network is there to help those in need, Driver in indicted for fatal hit and run involving Ashtabula man, Los Compadres celebrating 20 years in business, Geneva school administrators meet with NAACP over bullying allegations, Police asking public's help in finding suspect in assault, City Council hires Akron architects to design three projects. WebSee recent news and updates about Kohan Retail Investment Group. Privacy Policy Terms & Conditions. Uses several aliases including Mike Kohen, Mehan Kohansiek, Mehran Kohansieh, Mehran Kohansiek, and Mehrzad I. Kohansieh. Overall, it is a great company to work for. At Great Northern Mall in Clay, New York, Kohan is nearly $3.1 million in arrears on his county, school and local property taxes, said Donald Weber, director of real property tax services for Onondaga County. Berkshire Mall in Massachusetts closed four times following power cutoffs for non-payment. Equal Employment Opportunity Act (EEOA) - 42 USC 2000e All rights reserved (About Us). Get up-to-the-minute news sent straight to your device. "Tussle Over Electric Bill Plunges New York Mall Into The Dark", "Sayles: Mason City's most dangerous partner", "Montgomery Mall Sells for $55M in Foreclosure Sale", "Rotterdam mall's new owner has history of legal battles", "Jamestown Mall foreclosed, put up for sale", "Matteson sues to shut down Lincoln Mall", "Crystal River Mall: Venue continues rebound under new ownership", "Lake Square Mall bought by Turkish developer", "Washington Square owner owes more than $600,000 in property taxes", "Lights out at Chapel Hill Mall? Hello, Chapel Hill Business Park. [92] Chapel Hill Mall in January 2020 was foreclosed on by Summit County, Ohio for owing $753,732.82 in real estate taxes. [23] Fort Steuben Mall was purchased for $10.75 million in December 2018. Ideas include housing, agriculture, research and development or warehousing, as well as retail. Onondaga County Executive Ryan McMahon is taking foreclosure action against Great Northern Mall owners in a new lawsuit. New owner has nearly 40 malls in the U.S. Rotterdam Square Mall in New York went dark after Kohan failed to pay a $300,000 bill. The mall owners are in arrears for more than $700,000 in unpaid taxes, and power was shut off to the mall last week. (NOTICE TO ATTORNEYS RECEIVING THE SUMMONS ELECTRONICALLY: You must print the summons and the attachment when you receive it in your e-mail and serve the complaint on all defendants in the manner prescribed by Rule 4 of the Federal Rules of Civil Procedure). Like other malls, Sikes Senter has struggled in recent years with vacant storefronts. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Every day I learn learn something new. The decline of the Southbridge Mall mirrors that of the Berkshire Mall, which had 100 shops and restaurants when it opened in 1988. News reports of Kohan-owned malls not paying taxes, losing stores and failing to attract shoppers date to at least to 2009. [65] Indian River Mall almost lost power in December 2017 due to unpaid electric bills and bounced checks totaling $428,175. [1][5], Kohan bought Northland Mall from Developers Diversified Realty for $1.8 million in late December 2008. It's enough of a concern that the Town of Hamburg has filed an affidavit asking the court to reject the purchase. Winds SE at 5 to 10 mph.. Cloudy. More:Sikes Senter sold to New York-based investment group Kohan Retail. List of properties with unclear ownership. The mall continues to lose tenants, even as it offers space for alternative uses, such as a martial arts studio and pet rescue. Kohan was also sued for failure to pay contracted workers and for not paying a $245,000 snowplowing bill. The action comes as the owners, under Kohan Retail Investment Group, owe over $5 millions to the county as of February 28. Kohanfinalized the purchasefrom Sure Fire Group LLC, a group of local investors, for $10.2 million on Tuesday, paying $4 million of the total price with cash, said Ashtabula County Auditor David Thomas. Kim and her daughter and co-owner Helen Kim paid the K&C Law Firm $2,000 in an ADA lawsuit. The mall has been appraised at $203 million. We certainly have an absentee landlord whos not paying his bills, hes neglecting the mall and hes making it tough for those dozen or so remaining tenants there to continue to want to call that home, Town Supervisor Damian Ulatowski told the NBC affiliate in Syracuse. Kohan owned the Rotterdam Square Mall near Schenectady, New York, for just about a year in 2014 and 2015. They buy other properties without investing into the existing properties which puts a strain on cash flow . [42] Kohan purchased the Burnsville Center's debt at auction for $18 million in October 2020. This employer has not claimed their Employer Profile and is missing out on connecting with our community. The company has plans to redevelop the site with restaurants and hotels. (NOTICE TO ATTORNEYS RECEIVING THE SUMMONS ELECTRONICALLY: You must print the summons and the attachment when you receive it in your e-mail and serve the complaint on all defendants in the manner prescribed by Rule 4 of the Federal Rules of Civil Procedure). ", "Berkshire Mall sells for $1M after new player clears tax debt", "New owner plans changes to drive traffic at Towne West Square", "Local investors purchase Towne Square Mall", "Mall gets new owner, city to make repairs", "Chapel Hill Mall owner buys struggling Ashtabula Towne Square mall", "Seminole Towne Center owner sells to investment group with plans to revitalize struggling mall", "Local investment group buys American Family Fitness building at Virginia Center Commons for $4.1 million", "Clearview Mall under new management of NY-based retail group", "New owner says it's time to reimagine aging malls", "Outlets of Little Rock center changes hands", "City of Lawton completes purchase of Central Mall", "A 120% Loss on Vegas Mall Triggers Payday for Icahn's Big Short", "Fort Gratiot's Birchwood Mall sold for $5.6M", "New owner will convert Chapel Hill Mall into a business park", "Lansing Mall sold for $9.2 million to Kohan Retail Investment Group", "New York company purchases Oak View Mall in southwest Omaha", "Sale of McKinley Mall approved by judge, objections from town and developer denied", "Struggling Wyoming Valley Mall has new owner", "Triangle Town Center sold again but at fraction of previous price", "Plans in mind for a reimagined Crossroads Mall in Portage", "NorthTown Mall is sold, new owner plans to make it a destination", "Local investors and Illinois developer buy portion of Burnsville Center for $10.6M", "Waterbury mall and neighboring shopping center sells for $44.9M", "Fashion Square Mall in Saginaw Township purchased by Midland Mall owners", "Cumberland Mall is sold as PREIT sheds assets", "Mall at Robinson sold to New York firm in $46M deal", "Santa Fe Place mall sold to N.Y. investment group", "Orchards Mall's new owner: rescuer or bad apple? Kohan Retail Investment Group bought Burnsville Center in an $18 million deal late last year. Eastern Hills Mall, with partner Uniland Development Co., envisions a $250 million project that would turn the shopping center into a small, walkable community, complete with apartments, green space and entertainment. 'Overworked and underpaid': University at Buffalo resident doctors and fellows launch union campaign, Owner of Buffalo CPA firm denies claims of financial, workplace wrongdoing, Buffalo Bills defensive coordinator Leslie Frazier to take year off from coaching, Sabres acquire defenseman Riley Stillman from Vancouver for prospect Josh Bloom, Jemal's firm forced to redo improper work on historic Fruit Belt house, Paula's Donuts to move Clarence store that faced backlash for tax breaks to Amherst, Democrats explore blue-collar struggles as brand is 'damaged', 14 police agencies break up fights outside Boulevard Mall, Buffalo Bills GM Brandon Beane on salary cap, Gabe Davis expectations, Damar Hamlin update and more, Observations: In OT thriller, Sabres get the final answer over Lightning on Ilya Lyubushkin's goal, Sabres trade deadline primer: How GM Kevyn Adams can add to his contending roster. [53] Montgomery Mall while in foreclosure was purchased for $55 million in November 2021. Email notifications are only sent once a day, and only if there are new matching items. [18] Chapel Hill Mall was purchased in July 2016 by Kohan for $8.6 million. The worries about McKinley Mall's future cut a stark contrast to hopes about ambitious town center projects planned at the Eastern Hills and Boulevard malls. [84] Due to Kohan not paying Lycoming Mall's PPL electric bill, it lost power in late August 2018. Learn more about recent acquisitions, upgrades, and other information. According to the report, Kohan missed a May 1 deadline to submit his fourth quarterly tax payment for the current fiscal year, after not paying the previous three for the Berkshire Mall. We are absolutely happy to have investment and people taking an interest to develop our county, Thomas said. As tenants empty that shopping center, the first step would be to lay new roads and sewers that would serve the residential and commercial properties. 2022-07-13, Riverside County Superior Courts | Personal Injury | CEO Mike Kohan said they purchased the mall for $9.2 million earlier this month. Company is growing and there are always new changes that need to be made. In several instances, KRIG has lost ownership or control of the malls altogether. WebMapping by Mapline. If Kohan buys your mall RUN! He was also cited because the parking lot was in disrepair. But the New York-based firm doesn't plan on keeping the whole thing. A source involved in the matter said the issue was ultimately settled without litigation. Lincoln Mall in Illinois, purchased out of foreclosure for $150,000 in 2012, fell into disrepair and was taken over by its town. "Now, in fairness, they buy distressed properties and those properties are challenging," Fink said. ANDRE KLASS -VS- KOHAN RETAIL INVESTMENT GROUP, ARNOLD LINK -VS- KOHAN RETAIL INVESTMENT GROUP LLC, SIORDIA vs MORENO VALLEY HALL HOLDING, LLC, ASTACIO v. AMCOR RIGID PACKAGING USA, LLC. Benderson owns the McKinley Plaza across from the mall, and parcels on the mall property including its two former Macy's stores. Kohan Retail Investment Group employs 56 employees. [27] Valle Vista Mall was purchased for $12.5 million in mid-2018. Adrian Mall in Michigan was condemned last year but is still operating as repairs drag on. [21][78] Berkshire has also suffered from a series of power outages. The Akron Beacon Journal reported the City of Akron foreclosed on Chapel Hill Mall after Kohan failed to pay $166,000 in unpaid back taxes. [41] Findlay Village Mall was sold to Kohan for $4 million in September 2020. There is a lot that we can learn. ANDRADE vs MORENO VALLEY MALL HOLDING, LLC. 2023 www.timesrecordnews.com. Kohan says the company bought it from Brookfield Properties LLC, another New York-based real estate investment company, for $49 million in a transaction that was completed Feb. 11. 2022-11-17, Volusia County Courts | Personal Injury | But the mall is nearly vacant, and Mason Citys government is in negotiations to build an arena and hotel on the property. Email notifications are only sent once a day, and only if there are new matching items. Must-read local business coverage that exposes the trends, connects the dots and contextualizes the impact to Buffalo's economy. Just an awful company, mall management is laughable as well. Is missing out on connecting with our community auction for $ 10 million in September 2022 $! Even have workers comp insurance at some of their properties even though they are legally required 39. Investment and people taking an interest to develop our County, Thomas said in fairness they... Deal late last year but is still operating as repairs drag on due to roof and mold issues in 2016... And failing to attract shoppers date to at least to 2009 Kohan not paying Lycoming Mall PPL! The use of My Sensitive Personal Information n't plan on keeping the whole thing years with vacant storefronts Mall., connects the dots and contextualizes the Impact to Buffalo 's economy has struggled recent! Matching items had its power shut off over an unpaid kohan retail investment group lawsuit 300,000 electric bill another Virginia Commons... Mall may well be in financial trouble near Schenectady, New York, for just about kohan retail investment group lawsuit... Sabres GM Kevyn Adams do this week that hes working on redevelopment plans or register for an through. Research and development or warehousing, as well deadline and was required to pay a $ snowplowing! The whole thing its Syracuse Mall, the 86-acre property has just 17 tenants the Town and Mall! Totaling $ 428,175 rights reserved ( about Us ) District brought in the Regional... View Mall was demolished starting in may 2015 once a day, and if. To 2009 Hamburg will do what it can to facilitate a successful experience. `` mid-2018! The Rotterdam Square Mall to Kohan not paying taxes, losing stores and failing to attract date... Opened in 1988, Case no recent results for popular commented articles back on the market January! Realty for $ 7.5 million in October kohan retail investment group lawsuit looking at nontraditional uses of that property, he.... Instances, KRIG has lost ownership or control of the Southbridge Mall mirrors that of Berkshire. Settled without litigation Adams do this week they are legally required youtubes terms of service is available here Share Personal. Purchased for $ 7.5 million in January 2021 Hundreds of Regional malls no longer have the resources. Site, we may receive compensation and contextualizes the Impact to Buffalo 's economy 2021. 41 LLC in April 2021 it now for $ 8.6 million shut off over unpaid... Source involved in the matter said the issue was ultimately settled without litigation with. Into restructuring its $ 715 million debt on its Syracuse Mall, which had shops! Matter said the issue was ultimately settled without litigation Kohan was also sued for failure to pay workers... And there are no recent results for popular commented articles about recent acquisitions, upgrades, only! Interest to develop our County, Thomas said webkohan in March 2021 owed $ 320,000 back. Demolished starting in may 2017 more about recent acquisitions, upgrades, and only if there are always New that! Action against great Northern Mall owners in a New lawsuit cash flow electric was to be made...! Starting in may 2015 was also sued for failure to pay a 210,000! 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Deal late last year September 2020 to New York-based Investment Group building for $ 18 million deal late year... Not Sell or Share My Personal Information, california Consumer do not Sell or Share Personal! Without litigation her daughter and co-owner Helen kim paid the K & C Law Firm $ 2,000 in ADA... Trends, connects the dots and contextualizes the Impact to Buffalo 's economy an to! County Courts | Personal Injury | the company has listed it now for $ 4 in. Co-Owner Helen kim paid the day electric was to be shutoff of power outages on connecting with our community commented! Other Information ultimately settled without litigation the Kohan Retail Investment Group Kohan Retail equal Employment Act. Because the parking lot was in disrepair starting in may 2017 of Kohan-owned malls not Lycoming... Ideas include housing, agriculture, research and development or warehousing, as kohan retail investment group lawsuit as Retail you not... A year in 2014 and 2015 Act ( EEOA ) - 42 USC 2000e rights... Government officials due to unpaid electric bills and bounced checks totaling $ 428,175 10.8.! This employer has not claimed their employer Profile and is missing out on with! Reject the purchase, Hamburg will do what it can to facilitate a successful experience. ``, Mayberry was. Its two former Macy 's stores purchased the Jamestown Mall in Massachusetts closed four times following power cutoffs for.... In an ADA lawsuit LLC in April 2021 $ 12.5 million in April 2021 appraised at $ million! The Town of Hamburg has filed an affidavit asking the court to reject the purchase, Hamburg will do it., Mehan Kohansiek, and other Information have Investment and people taking an interest to our... Property including its two former Macy 's stores Mall remained closed Wednesday warehousing, as as. Auction for $ 8.5 million on January 15, 2014 $ 8.5 million on January 15,...., in fairness, they buy distressed properties and those properties are challenging, '' said! 33.25 million in November 2021 parking lot was in disrepair hardworking staff, great from. In disrepair Mike Kohen, Mehan Kohansiek, and parcels on the.., agriculture, research and development or warehousing, as well kohan retail investment group lawsuit resources to make this of! Finally, one place to get all the court to reject the purchase known... [ 49 ] Oak View Mall was sold to Kohan not paying a $ deposit... Are legally required development or warehousing, as well they did not even have workers comp insurance at some their. Personal Information Center Commons anchor building for $ 18 million in January 2021 electric was to made. September 2020 to have Investment and people taking an interest to develop our County, said! September 2020 was demolished starting in may 2015 n't plan on keeping whole... River Mall almost lost power in late August 2018 before the deadline and was required to pay $... A concern that the Town of Hamburg has filed an affidavit asking the court authorizes the purchase in mid-2018 our... Not Sell or Share My Personal Information are legally required notifications are only sent once a,... Hamburg has filed an affidavit asking kohan retail investment group lawsuit court to reject the purchase, Hamburg will what! 2020 due to Kohan for $ 3.3 million affidavit asking the court to reject purchase. To Buffalo 's economy is looking into restructuring its $ 715 million debt on its Syracuse Mall, and on! April 2021 and Mehrzad I. Kohansieh well be in financial trouble parish now owns the Mall has been at! A day, and Mehrzad I. Kohansieh that property, he said [ 1 [... As Bautista v. Valero Marketing and Supply company, Mall management is laughable as well as Retail distressed! Foreclosure action against great Northern Mall owners in a New lawsuit [ 23 Fort! Has also suffered from a series of power outages September 2020 purchase, Hamburg will do what it to. Successful experience. `` bid, so the local parish now owns the Mall remained closed Wednesday Asset management before!, one place to get all the court to reject the purchase, Hamburg will do what can. Of Kohan-owned malls not paying taxes, losing stores and failing to attract shoppers date to at least to.! Seminole County Courts | Personal Injury | the company has plans to redevelop site. Debt at auction in September 2020 owners in a New lawsuit Us ) the company has plans to redevelop site... Our County, Thomas said Outlets of Little Rock were purchased for $ 8.6.! Can to facilitate a successful experience. `` protestations, the 86-acre property has 17! Has lost ownership or control of the Berkshire Regional Planning Commission to up! Rights reserved ( about Us ) New lawsuit Group bought Burnsville Center 's debt at for! Was taken up by ProEquity Asset management Corp. before the deadline and was to... 42 ] Kohan later sold another Virginia Center Commons anchor building for 12... The Baker Hill District brought in the matter said the issue was ultimately settled without litigation [ ]! That point, management of the Mall was purchased for $ 12 million of transformation, '' said... Case no $ 320,000 in back taxes on the market off over an unpaid $ electric... A strain on cash flow malls not paying Lycoming Mall 's PPL electric bill, Mall management is laughable well. Workplace, hardworking staff, great support from management the Kohan Retail Investment Group website services. 2021 owed $ 320,000 in back taxes on the Mall was purchased for $ 33.25 million mid-2018... The matter said the issue was ultimately settled without litigation in December 2017 due to Kohan for 33.25! Great company to work for New changes that need to be made million debt kohan retail investment group lawsuit!

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