BANKRUPT FISHERMAN

Dominion, Volume 26, Issue 171, 15 April 1933, Page 6

BANKRUPT FISHERMAN

Possession of Launch Claimed Having been adjudged bankrupt, an ' Italian fisherman, Guiseppe, or “Goel, Lamacchia, who lives at Island Bay, appeared with an interpreter before a meeting of his, creditors — Mr« S. Tansley, the Official Assignee, presided. A deficiency of £431/11/- was shown. Unsecured creditors were owed £BOO, with other liabilities totalling £Bll 18/-. The main creditors, none of whom were secured, were: Norman .luck, engineer, £220: Toney Lamacchia, fisherman, £2.30; A. I’aino, £lOO, company manager, and V. Baruao, carrier, £125. Total assets were £3BO/7/-. Lamacchia said that he and a partner bought a launch, Sicily, in 1028. At first he did very well, and made about £4O a month, but early in 1030 the wholesale value of fish fell away. Great expense was incurred in fitting out the launch, and when it was claimed by a bailiff Lamacchia was forced to tile, a petition. Bankrupt was lengthily interrogated on the disposal of a motor-cycle, a dinghy, and fishing nets and tackle. He claimed that the launch was a tool of trade, which entitled him to keep it. The assignee adjourned the meeting sine die to look into the question of possible securities over the launch.