The Supreme Court on Tuesday directed that there should be no charging of compound interest, interest on interest or penal interest on the installments which were … UPDATED: Income tax must be deducted before administrators can pay out statutory interest to the creditors of an insolvent company, the UK's highest court has confirmed. Idaho 3rd Judicial District Court. The Third Circuit vacated the District Court’s order insofar When a petition for a writ of certiorari, an appeal, or an application for other relief is frivolous, the Court may award the respondent or appellee just damages, and single or double costs under Rule 43 . The Supreme Court is set to hear the case on the extension of the loan moratorium and waiver of the interest on interest today. The last hearing had taken place on September 28, when the SC had asked the Government to decide soon on this matter. The Third Circuit vacated the District Court’s order insofar At what point is an amicus filer really a front group for the actual interest to hide behind? The Italian Supreme Court, in a decision released 10 July, has addressed whether a sub-holding company was beneficial owner of interest payments for withholding tax purposes, applying the European Court of Justice’s holdings in the well-known Danish cases. 476 of 2020, the bench of Supreme Court of India, comprising of Justices Ashok Bhushan, R Subhash Reddy and MR Shah Ordered for complete Waiver Of Compound Interest for all borrowers due to Covid-19 Pandemic and Moratorium declared therefore to combat the same. 2018. DATES. Interest Given by the Supreme Court of Pakistan Introduction It was a momentous event, as big as the creation of the country itself. Equivalent Coupon Issue Yield. United States Supreme Court's ruling in Williamson. 1961, which governs civil and bankruptcy adversary judgment interest; 18 U.S.C. (1) All judicial officers shall file a Statement of Financial Interest for the prior calendar year no later than May 1 of each year. ("Regulatory takings" issues arise when, under the Fifth Amendment's takings provision, a property holder claims the government is required to compensate him because of allegedly over-intrusive regulation). SUPREME COURT OF NIGERIA. Related Sector: Health & Social Care On Wednesday 22nd March 2017, the Supreme Court handed down their judgment in the case of N v ACCG (2017) UKSC 22. Kaul and Justice M R Shah orally observed. This rate is determined by using the prime rate as it is reported on the first Monday in December, plus 3 percentage points, and rounded up to the next one-half percentage point. POST JUDGMENT INTEREST RATE ALLOWED. 02-1016. Interest in cases arising in a court of the United States is allowed at the interest rate authorized by law. The text of Federal Rule 804(b)(3) does not specifically address statements against interest which also contain remarks that are either favorable or neutral to the declarant's interest.23 This lack of guidance is problematic, as the mere fact that a … Instead, the Supreme Court took it upon itself to transfer the petitions pending before the High Court to itself and hear the case on merits, that is challenge to the project itself. The Supreme Court dismissed the appeal in cassation by the Deputy Minister of Finance. INTEREST [1] When the court delivered judgment on the issue of liability the court held that interest should be awarded at a commercial rate and the parties were invited to make further submissions on whether interest should be compounded or it should be simple interest ([2017] JMSC COMM 18). Overview. New Hampshire Judicial Branch - Interest Rates on Judgments/Prejudgments. In the Interest of K.K., a child . State of North Dakota, ) ) Sup. The court holds that the effective interest rate should be calculated by determining The Court has taken on an active and central role in the governance of the Indian polity through its activity in public interest litigation cases, and in some cases, has virtually taken over functions that were once the domain of Parliament and the Executive. Interest on interest to be waived during moratorium period: Govt to SC Premium In an affidavit to the Supreme Court, the government said ompound interest … July 5, 2013 | Federation News (July 5, 2013) The Federation of Law Societies of Canada welcomes the unanimous decision of the Supreme Court of Canada in Canadian National Railway Co. v. McKercher LLP released June 5, 2013. Govt to take care of job loss, other facilities in strategic divestment: Anurag Thakur Home; General Interest; Government; Supreme Court rules in favor of refiners on exemptions from renewable fuel obligations. Supreme Court Rules Table of Contents. 3 2019 4.3%. (1) Interest-Bearing Pooled Trust Accounts. Therefore, for the period January 15, 2020, through January 14, 2021, the legal rate of interest for judgments and money decrees is 8.75% compounded annually. 2.45. The Supreme Court ruled on the contentious issue of loan moratorium extension and interest waiver case on March 23. On appeal, the Iowa Supreme Court affirmed the major holding in the case. This table outlines the rates of interest that the registrar applies when giving judgment under rule 283 of the Uniform Civil Procedure Rules 1999. Prior to 1 September 2012, pre-judgment rates were set by a practice direction of the individual courts under s. 47 of the Supreme Court Act 1995. Lands’ End appealed the circuit court order, since it would receive more interest on its $724,292 judgment if the old 12 percent rate applied. The apex court was set to resume hearing on Tuesday but rescheduled it today as the bench of Justices Ashok Bhushan, R Subhash Reddy and MR Shah were … Supreme Court Cases of Interest. Balancing of Competing Interests in the U.S. Supreme Court. In recent years, interest groups have participated in more than 90% of cases decided by the U.S. Supreme Court (Collins 2008, 47). By contrast, interest on judgments issued by federal courts sitting in Indiana are not affected by these Indiana Supreme Court Orders, and interest on federal judgments is calculated according to a different formula pursuant to 28 U.S.C. Accordingly, this case presents a matter of public and great general interest that warrants Supreme Court review. This case raises important issues around the test for public interest standing in complex (2) All judicial officers who are appointed to office shall file a Statement of Financial Interest within 60 days of The Supreme Court of India today is arguably one of the most powerful constitutional courts in the world. From 19 April 2013, post-judgment interest in accordance with s. 59(3) of the Civil Proceedings Act 2011, and Supreme Court practice direction 07/2013 (PDF, 12.6 KB), District Court practice direction 06/2013 (PDF, 16.8 KB) and Magistrates Court practice direction 15/2013 (PDF, 17.9 KB) are adjusted on 1 January and 1 July each year, and based on the Reserve Bank rate (cash rate) as … 16/Feb/1992. And a supreme court majority affirmed the circuit court’s interest award. Parliament fixes an interest rate that accrues on all outstanding civil judgments of the Court. Law Reform (Miscellaneous Provisions) Act. is being given by us hereunder, the same can be downloaded and modified according to the facts. NEW DELHI: The Supreme Court on Wednesday took note of the Centre's alleged inaction and asked it to clarify its stand within a week on the waiver of interest on interest for deferred payments of instalments for loans during the moratorium period announced due to the coronavirus lockdown . Post Judgment Interest Note: From 1 July 2010 these rates will be set at 6 monthly intervals and will be 4% above the last applicable Reserve Bank cash rate target for pre judgment interest and 6% above the last applicable Reserve Bank cash rate target for post judgment interest. interest - Award of interest - Whether Registrar has discretion to award interest – Whether the compensation for mesne profits attracts interest payable on judgment debts - Judicature (Supreme Court) Act ss. Interest in a code of conduct has surged recently, especially in some eyebrow-raising situations with new conservative Justice Amy Coney Barrett. (j) The county agency shall initiate the appropriate court proceedings and assist the court during all stages of the court proceedings if the county agency determines that general protective services are in the best interest of a child and if an offer of an assessment, a home visit or services is refused by the parent. Post Judgment Interest Rate Table 2001-2017. The Supreme Court hands down judgment upon “best interest” and “available options” in the Court of Protection. The Supreme Court is scheduled to hear the loan moratorium petitions seeking a direction to waive interest on interest on November 2. Interest is allowed on most judgments entered in the federal courts from the date of judgment until paid. Supreme Court: In an important verdict concerning the Small Scale Industries, particularly the MSMEs, facing the financial strain due to the Corona Virus Pandemic, the 3-judge bench of Ashok Bhushan, R. Subhash Reddy and MR Shah*, JJ has held that there shall not be any charge of interest on interest/compound interest/penal interest from any of the borrowers who availed RBI’s loan … SC loan moratorium hearing highlights: The Supreme Court on Wednesday will resume hearing on the batch of petitions seeking relief in the form of extension of loan moratorium period beyond six months or waiver of interest on interest. It has immense power over our lives. Supreme Court of Canada Clarifies Conflict of Interest Rules. Quorums and conflicts of interest on the Supreme Court. New Jersey Conservation Foundation asserts a property interest. Important steps and tips for Supreme Court Public Interest Litigation: (i) The suggested format of the Supreme Court Public Interest Litigation. 55 Pa. Code § 3490.232. New Jersey Conservation Foundation asserts a property interest. Loan Moratorium And Interest Waiver - Live Updates from Supreme Court. It is essential that it’s ethics and impartiality are unimpeachable. 19CA1406 Petitioners: The People of the State of Colorado, In the Interest … 02/Mar/1988. Justice Souter, with whom Justice Breyer joins, concurring. Idaho 7th Judicial District Court. Supreme Court wants interest relief. $216,834.80 into the court’s registry, which covered the awarded amount plus 6% postjudgment interest on that amount through the date of deposit. I agree with the Court that Jessica Gonzales has shown no violation of an interest protected by the Fourteenth Amendment’s Due Process Clause, and I join the Court’s opinion. On 14 Ramadan 1420, the Shariah Appellate Bench of the Supreme Court of Pakistan gave its landmark decision banning interest in all its forms and by whatever name it … If interest is, in fact, renounced then the Reserve Bank of India (RBI) estimates that banks will lose nearly ₹2 lakh crore in its argument to not waive interest on loans. Prescribed Rates of Interest pursuant to Supreme Court Rules 2000 r.5A. The Reserve Bank of India (RBI) has told the Supreme Court that it is not in favour of waiving interest on loans during the lockdown period as it will risk the financial viability of banks.. Friday, Nov. 29, 2002. Published on : 22 Mar, 2021 , 10:35 pm. Here's a brief recap of the hearing so far: The Supreme Court has previously said there is "no merit in charging interest on interest". An example of this substantial government interest is found in a case involving Community for Creative Non-Violence that challenged a ban on camping in Lafayette Park across from the White House. Plea Challenging Interest On Loans During Rbi Moratorium Period Live Updates From Supreme Court. The Court of Appeal in Steadroy Matthews v Garna O’neal held that the Court has jurisdiction to award pre-judgment interest. ; Post-judgment interest rate: 6.10% (the amount of post judgment interest is set by Rule 36.7 of the Uniform Civil Procedure Rules 2005). Interestingly, the reason given by the Supreme Court was that the case involved “larger public interest.” FROM. Supreme Court Cases of Interest. Idaho 5th Judicial District Court. * Includes links to court locations in Boise, Coeur d’Alene, Moscow, and Pocatello. The Texas Supreme Court affirmed that it is a fit parent, not the court, who determines what is in their child’s best interests,” said Brown. The types of judgments generally fall under one of three statutes: 28 U.S.C. The Supreme Court upheld this … The RBI had on June 4 said lenders will lose Rs 2 lakh crore if interest is waived during the moratorium period. End. 3,976,335.0. The court may not dismiss an action for failure to prosecute in the name of the real party in interest until, after an objection, a reasonable time has been allowed for the real party in interest to ratify, join, or be substituted into the action. The Centre has informed the Supreme Court that it will continue to “hand-hold” small and vulnerable borrowers and waive the compound interest (interest on … (2) Big-money influences were more widespread than ever before. In this regard, the Court observed that payment of interest could not penalize a government and directed. Supreme Court Judgment dated 23.3.2021, says in short: Compound interest/ Interest on Interest/ Penal Interest charged for the moratorium period (1.3.2020 to 31.8.2020) in any borrower account to be refunded or adjusted towards future repayment(s). 1.78. Judicature (Supreme Court) Additional Powers of Registrar Act ss. are to be filed on legal size papers. 15. Supreme Court of Nigeria, in compliance with the Public Procurement Act, 2007, wishes to inform eligible Consulting firms/Contracting Companies and the Public that Supreme Court of Nigeria is to undertake the procurement of service … from 1 July 2020. from 1 January 2020. from 1 July 2019. from 1 January 2019. from 1 July 2018. from 1 January 2018. from 1 July 2017. from 1 January 2017. Now the top court has said compound interest for all borrowers availing a moratorium, irrespective of loan amount or category, is to be waived and has ordered that the amounts already recovered as interest on interest for the moratorium period must be adjusted by the banks. s/Donald W. Beatty C. J. June 17 2020, 2:32 PM June 17 2020, 5:15 PM. FOR THE COURT. In the first, the Court may measure competing interests against each other and determine which carries the most weight. Conflict of interest on the Supreme Court. The Supreme Court however found the Awarded Interest to be excessive. (i) 1+5 copies of the Supreme Court Public Interest Litigation. Jonathan Kastellec: First, we find a overall growth of interest group involvement in Supreme Court over time, beginning in 1930 and tracing the changes to the present. Nationally, 27 state supreme court justices were elected in races exceeding $1 million in spending, up from the previous … The interest rate(12%) decided by the High Court should be instead be substituted with a 6% simple interest rate. Thus, the Supreme Court in Reporters Committee effectively overruled the longstanding "Getman public interest" approach by which a requester's particular circumstances and intention to serve a public interest through his use of the information was considered in … LIVELAW NEWS NETWORK. This means that although you live in Arizona, some banks may be able to charge higher interest rates because they are based in other states. Supreme Court Shows Interest in Harvard Anti-Asian Affirmative Action Case By Dan McLaughlin. BANKERS' PRIME RATE. Interest Rates 1974-1990. The Court did, however, determine that the two-year statute of limitations in Iowa Code § 614.1(10) applied to claims based upon a secured interest in farm products. Strict Scrutiny. Criminal Justice extends its deepest gratitude to Carol Garfiel Freeman, the retiring “Cert Alert” columnist, who shared her expert insights with our readers for 15 terms of the US Supreme Court. The Deputy Minister firstly contested the judgment by the Court of Appeals that the interest costs were arm’s length interest costs and therefore in principle deductible. One Supreme Court case allows national banks to charge borrowers based on the highest interest rate of the bank's home state. N.D.C.C. The case went to trial on the amount of damages; the jury awarded $24,081; and the trial court awarded § 628.46 interest starting from 30 days (plus 3 days for mailing) after the insured conceded liability for the accident. 12 and 51. Interest on Judgments, Costs and under Order 30 rule 6(2) of the Rules of Court Various provisions in the Rules of Court provide for the application of a default rate of interest at 6% or such other rate as the Chief Justice may from time to time direct. On appeal, the Sixth Circuit reversed the lower court, finding that MetLife had operated under a "conflict of interest," because it both decided eligibility for benefits and funded benefits. The District Court denied the motion, and it granted PennEast’s requests for a condemnation order and preliminary injunc - tive relief. The expansion of the concept of “prop-erty rights” beyond its common law roots reflected a recognition by the Court that certain interests that fall short of traditional property rights are nonetheless important parts of people’s economic well-being. Date of Auction. Outside spending by special interest groups shattered records, totaling $27.8 million and surpassing the prior high of $16.4 million in 2011-2012. The Supreme Court also has seen its share of drama. If refund is not possible, the interest on interest collected shall be adjusted in the next installment … INVITATION FOR EXPRESSION OF INTEREST AND PRE-QUALIFICATION (1) INTRODUCTION. T he most important event in the last quarter of the Term was, of course, the retirement of Justice Kennedy and nomination of Judge Brett Kavanaugh to replace him. In Westdeutsche Landesbank Girozentrale v Islington London Borough Council[1996] AC 669, Lord Goff of Chieveley, said at page 684: 8 On April 10, 2012, Johnson requested that the trial court release the now-undisputed $142,500 in principal Interest Given by the Supreme Court of Pakistan Introduction It was a momentous event, as big as the creation of the country itself. Arizona Usury Laws. Given that the agreement was silent on the point of rate of interest, but provided for payment of interest on delayed payment, the Supreme Court awarded simple interest at the rate of 8% on unpaid sums, as an equitable measure. The Supreme Court, overturning the previous judgment of the Court of Appeal, concluded that Littlewoods was only entitled to the payment of simple interest on historic overpayments of VAT, not the compound interest to which Littlewoods said EU law entitled it. RULES OF THE SUPREME COURT OF THE STATE OF NEW HAMPSHIRE ADMINISTRATIVE RULES 35 TO 59 Rule 50. On April 1, 2021, the Supreme Court of Canada granted leave to appeal from the B.C. The relevant interest rate will apply until the amount outstanding is paid in full. Click to Read/Download Judgment The Property Interest. Date of Auction. The District Court denied the motion, and it granted PennEast’s requests for a condemnation order and preliminary injunc - tive relief. The judgment interest statute changed during litigation. The Supreme Court held that the dual interest rate of 9% and 15% is penal, as opposed to being compensatory in nature. The Supreme Court of Ohio ruled today that a party’s standing to initiate a mortgage foreclosure lawsuit is determined on the date the complaint is filed in court, and a party that lacked standing at the time a suit was filed cannot remedy that defect by receiving assignment of a mortgage and promissory note after the filing of the foreclosure action but prior to the entry of judgment. For the period 1 January 2021 to 30 June 2021, the following interest rates apply: Pre-judgment interest rate: 4.10% (the amount of pre-judgment interest is set by the District Court, see Practice Note Civil 15 for more information). 28-20-34 requires that before the twentieth of December of each year, the State Court Administrator must determine the rate of interest on judgments. 3612 (f) … 3 (1) and 5 (1). It further directed that if the interest has been collected, it should be either refunded or adjusted towards the … % Rate. this decision, the supreme court gave us some guidance about how “public interest” is defined. Does Supreme Court Rule 37.6 (and Federal Rule of Appellate Procedure 29(a)) as presently applied adequately disclose to the parties, the Court and the public the true interest behind the amicus filing? Arizona's Usury law limits interest rates at 10%. 9 Dec 2020 7:06 AM GMT. And in particular, we found that interest group involvement in Supreme Court nominations was relatively rare in the first part of that period, so from say 1930 to 1970. 'Interest on Interest' termed not satisfactory by Supreme Court. Trust Accounts. The top court said it could not understand the rationale behind waiving interest on interest on loans up to Rs 2 crore and why this limit has been … However, the Court opined that the rate of interest(12%) should be scaled down. As a special meeting in September, 2001 the Chester Town Meeting approved a warrant article to authorize the selectmen to enter into a lease to allow a telecommunications tower to be located on the The U.S. Court of Appeals for the 9th Circuit agreed, but the Supreme Court decided to review that decision, and on Thursday it reversed. Start. 0.45. Anthony Franze. Interest Groups in High Court Nomination Process Study Documents Over $7.5 Million in Interest Group TV Ads in Year-Long Battle Over Federal Judgeships. Court of Appeal settles the law on pre-judgment interest. Due to the overwhelming public and great general interest in these issues, there is a need for a clear and uniform standard to protect Ohio consumers and guide creditors and practicing attorneys. Idaho 4th Judicial District Court. Date of Auction. The long-awaited Supreme Court judgment in Littlewoods Limited and others v HMRC [2017] UKSC 70 has finally been handed down. SUPREME COURT COMPLEX. 17/Feb/1992. New Jersey moved to dismiss PennEast’s complaints on sovereign immun-ity grounds. The court … Symbols of Law, including the Scales of Justice and Books of Law, are found throughout the architecture of the Supreme Court Building. The Supreme Court decision on the allowability of interest on capital borrowed 6 May 2019 Recently, the Supreme Court in the case of Reliance Industries Ltd.1 (the taxpayer) dealt with various issues including the allowability of interest on capital borrowed under Section 36(1)(iii) of … Last Monday, the California Supreme Court ruled that interest rates on loans over $2,500 could be deemed ‘unconscionable’ even if usury laws permit them. December 2014 Supreme court judgment: Arbitrator can award interest on interest A three Judge Bench of the Supreme Court, in a recent judgment dated November 25, 2014, in the case of Hyder Consulting (UK) Ltd., vs Governor, Penalty interest rates Parliament fixes an interest rate that accrues on all outstanding civil judgments of the Court. Idaho 1st Judicial District Court. 2021 2.09%. The Supreme Court directed that there would be no charging of compound interest, interest on interest, or penal interest on instalments that were due during the moratorium period from 1 st March 2020 to 31 st August 2020 on any borrower, regardless of the amount of the loan. x. In doing so the Court reaffirms the decision of Andrey Adamovsky et al v Andriy Malitskiy et al and declares Alphonso v Ramnath good law. 1. In the matter of Small Scale Industrial Manufactures Association v.Union of India,W.P. On September 18, 2020, the Italian Supreme Court handed down a much-awaited decision on default interest and usury law (the “Decision”). Effective April 15, 2021, the judgment interest rate is 2.041% Effective July 15, 2021, the judgment interest rate is 2.056% Click the link below to view the full table, which includes past interest rates: Judgment Interest Effective Since 01/01/1987 and Child Support Interest Effective Since 09/06/1991 Loan Moratorium Case. Three cases of interest to the Supreme Court have the potential to move the needle in the direction of plaintiff’s claims. Many readers were puzzled by a statement the Supreme Court released last month “respecting” a long-pending petition for certiorari in a bankruptcy case. 2. The Supreme Court on Tuesday ruled that there shall be waiver of interest on interest (compound interest) with respect to EMIs which were not paid by borrowers after availing the loan moratorium scheme extended by Reserve Bank of India (RBI) during March 1 to August 31 in view of the COVID-19 pandemic ( Small Scale Industrial Manufactures … The Post-Election Plan to Pack the Supreme Court. The amount of penalty interest due on a Court Judgment is calculated on the money ordered to be paid, backdated to the date the complaint was filed with the Court. No other relief granted. There are two interest rates for this period: For the period 1 July 2013 – 31 December 2013, the interest rate was 6.75% per annum. The US Supreme Court ruled 6 … The Database contains over two hundred pieces of information about each case decided by the Court between the 1946 and 2012 terms. FUNDS UNDER RULE 58 (6) PRE-JUDGMENT INTEREST RATE ALLOWED. (1) Special interest groups increasingly bankrolled the bench. The Supreme Court on Thursday said salaries and pensions are "rightful entitlements" of government employees and in case of delay, they should be paid with interest… Any hope that the country’s problems would magically disappear in 2021 were quickly dispensed by the assault on the Capitol. The case bypassed the appeals court. Pursuant to RSA 336:1, the State Treasurer has notified the Administrative Office of the Courts of the annual simple rates of interest on judgments and prejudgments, rounded to the nearest tenth per statute, for the following calendar years. Equivalent Coupon Issue Yield. Last week arguments were heard in Fifth Third Bankcorp v. Dudenhoeffer . At issue is the appropriate method to be used to determine the cramdown rate of interest applicable to secured claims in chapter 13 cases. Idaho 2nd Judicial District Court. Yesterday, the Department of Justice filed a Statement of Interest in the Supreme Judicial Court in the Commonwealth of Massachusetts to help ensure that uniformed service members serving their country away from home, their family members absent with them, and American citizens living overseas have the opportunity to participate fully in Massachusetts’s 2020 federal general election. The Deputy Minister first contested the decision of the lower appellate court that the interest costs were arm’s length interest costs and therefore, in principle, deductible. Charlie checks the Local Court website and finds the court pre-judgment interest rates for the period 26 December 2013 to 19 November 2014. The strict scrutiny standard of judicial review is based on the equal protection clause of the Fourteenth Amendment. For the period 1 January 2021 to 30 June 2021, the following interest rates apply: Pre-judgment interest rate: 4.10% (the amount of pre-judgment interest is set by the District Court, see Practice Note Civil 15 for more information). The Netlaw Supreme Court (NSW) Post Judgment Calculator calculates interest in accordance with the "prescribed rate of interest" set out in section 101 (7) of the CPA, being the rate of interest stipulated in Reg 36.7 of the Uniform Civil Procedure Rules 2005. The Supreme Court last month directed that no compound or penal interest shall be charged from borrowers for the six-month loan moratorium period, which was announced last year amid the … McDonnell, wherein the United States Supreme Court first considered whether an inmate's interest in good-time credits was constitutionally protected. Comments: Books represent learning, written knowledge, judgment, and a means to record decisions of the Supreme Court. The Supreme Court on Friday asked the finance ministry and the RBI to hold a meeting within three days to decide on the waiver of interest on interest for deferred payments of instalments for loans during the moratorium period because of the lockdown. The top court asked developers to pay the compensation within a period of one month from the date of this judgment and cautioned that failure in making payment, shall carry interest at … Columbia, South Carolina. The Supreme Court granted more time to the Reserve Bank of India and the Finance Ministry to review their stance on the plea seeking interest waiver on loans under moratorium during the Covid-19 pandemic.The three-judge bench headed by Justice Ashok Bhushan, however, said it would only consider the issue of charging ‘interest on interest’ … In 1983, then Sen. Joe Biden called court-packing proposed by President Franklin Roosevelt in the 1930s a “bonehead idea.” The Supreme Court of India today ruled in favour of waiving compound interest, ie, interest on interest during the six-month moratorium announced by the Reserve Bank of India last year.
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