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COLLEGE BOUND TRUSTEE TO CONTINUE OVERSEEING CHAPTER 11 PROCEEDINGS

 WEST PALM BEACH, Fla., Nov. 25 ~PRNewswire~ -- In response to yesterday's decision by a federal bankruptcy judge to deny College Bound's bid to convert from a Chapter 11 bankruptcy to a Chapter 7 liquidation, the judge ruled that Joseph V. Del Raso could still oversee the Chapter 11 proceedings, despite the fact that Del Raso now resides in Philadelphia.
 The judge also approved the sale of College Bound to Viewfax Millage, a Chicago-based company, at yesterday's hearing.
 As trustee, Del Raso indicated that he would wrap up the sale including the malpractice claims against third parties.
 College Bound, formerly traded on NASDAQ, is a subsidiary of the Ronkin Educational Group. College Bound operated 150 test preparation centers nationwide before being seized by the Securities and Exchange Commission.
 Joseph V. Del Raso, formerly a partner with Holland & Knight, Florida's largest law firm, is currently a partner with Stradley, Ronon, Stevens & Young, 2600 1 Commerce Square, Philadelphia, Pa., 215-564-8000.
 Stradley, Ronon has a large security practice including securities litigation and anti-trust work.
 -0- 11~25~92
 ~CONTACT: Jane Swanko of Jane Swanko Marketing & Media, 305-663-0770; or Joseph V. Del Raso, 215-564-8047, both for College Bound~


CO: College Bound, Inc. ST: Florida IN: SU: BCY

AW-JS -- FL004 -- 1488 11~25~92 11:37 EST
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Publication:PR Newswire
Date:Nov 25, 1992
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