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Times change, people change. I'd ask some careful, polite questions of how they are and how their life is going and most likely let them know in my responses that the past is the past. THEY may recall the bullying and either feel remorseful or still antagonistic about it.
Depending on their approach will color the tone of my speech but not the general language - we've both grown up, I've moved onto other things and am better for it.