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InterNet Bankruptcy Library - News for June 16, 1997







Bankruptcy News For June 16, 1997




        
  1. Interscience Computer Corp.
            appoints new president






Interscience Computer Corp.
appoints new president



AGOURA HILLS, Calif.--June 16, 1997--href="chap11.interscience.html">Interscience Computer Corp.
Monday announced that Walter Kornbluh has joined the company as
president with responsibility for the reorganization of the
company.



Kornbluh is a CPA, licensed in both New York state and
California and is a member of the Financial Executives Institute
and the Turnaround Management Association. He served as president
and chairman of the board of Marathon Office Supply Inc., an
American Stock Exchange listed company from 1972 until 1987.
Since then he has been president of Workout Specialist Inc., a
management firm concentrating on reorganization solutions.



Frank J. LaChapelle, chairman of the board of Interscience,
said: "We are very fortunate to have Mr. Kornbluh join us at
this critical time in our history. He has successfully taken
three companies out of bankruptcy in the last 18 months. I am
confident Mr. Kornbluh will help immeasurably in bringing the
proper organization changes to the company to allow a successful
emergence from Chapter 11 protection within the calendar
year."



The company also announced that its common stock is no longer
traded on the Nasdaq NMS system because it doesn't meet the stock
price and public float requirements after filing Chapter 11.
However, the company has made arrangements with one of its
investment bankers to sponsor it on the NASD Electronic Bulletin
Board. An announcement will be made when this process is
completed.



CONTACT: Interscience Computer Corp., Agoura Hills Frank J.
LaChapelle, 818/707-2000