Associated Press – December 8, 1951
LONDON, England – Primo Carnera settled a bankruptcy case in Britain last night after 14 years of hard times.
The London Gazette, official legal newspaper, announced that the Italian giant, who was coaxed out of Italy and nursed to the world heavyweight boxing championship, will pay off his debts in full next month.
The “Preem” earned a fortune with his fists but ended his boxing career with nothing but a fistful of debts.
Carnera got back into the black when he turned wrestler a few years ago. He took the circuit by storm in the United States and has just finished a successful European tour.
Last night’s announcement said that on January 14 his British creditors will receive all of the $12,107.20 he’s owed them since 1937.
Carnera still was in boxing when he went bankrupt, and the official announcement describes him as a professional boxer.