Trustee Goodman Associates Inc. of Halifax filed bankruptcy papers with Nova Scotia Supreme Court on behalf of Cape Breton's fiddling bad boy last Friday.

MacIsaac set off a media frenzy in January when he phoned a Halifax newspaper to say he was bust.

He later said he made it all up.

Paul Goodman, president of Goodman Associates, wouldn't discuss MacIsaac's financial troubles in detail Wednesday.

But the court papers show that Ashley Dwayne MacIsaac, 25, of Belle Cote, Inverness County, N.S., has assets of $119,000 and liabilities of $305,633.68.

Listed as assets are MacIsaac's house, valued at $100,000; a 1949 Dodge valued at $2,500; a 1972 Oldsmobile worth $4,500; a 1969 Olds valued at $1,000; a leased 1994 Mercedes (no value); musical instruments valued at $1,000; and furniture and household items worth $10,000.

MacIsaac is listed as having no cash, RRSPs or securities.

The creditors are Canada Customs and Revenue Agency, owed $180,000; the Royal Bank, owed $100,000 for the house mortgage; Royal Bank Visa, owed $13,000; Avco Financial Services, $8,000; phone compnay MTT Ltd.,

$1,635.17; Nova Scotia Power, $1,350.26; Wawanesa Mutual Insurance Co., $876; Cape Breton Collection Agency, $741.75; Primus Canada $28.50 and Chrysler Credit Canada Ltd., $1.

The documents also show a $1 debt to his record company, Loggerhead

Records Inc. of Toronto.

MacIsaac could not be reached for comment Wednesday, nor could his manager, Rob Cohn.

Loggerhead signed MacIsaac last summer and released Helter's Celtic in November.

The company has a three-CD deal with the fiddler. Officials could not be reached for comment Wednesday.

The $1 amounts are listed to allow the two companies to join the list of creditors.

Papers were sent to both companies this week and they will have to let Goodman Associates know how much money, if any, they are owed, Goodman said.

A meeting of the creditors is to be held at 2 p.m. on May 3 at Industry

Canada's bankruptcy branch office in Halifax.

MacIsaac's money woes come despite the fact the controversial performer released five CDs, beginning with 1992's independent release Close to the Floor.

Hi, How Are You Today?, his 1995 major label debut with Universal Music, contained the hit Sleepy Maggie and sold 300,000 copies.

MacIsaac's monthly income is listed as $4,000 and expenses $3,975.

The expenses are broken down as: car expenses (lease, insurance, gas, registration), $1,700; fixed expenses, $1,000; electricity, $400; food and meals, $300; incidentals, $300; clothing, $100; telephone, $100; health- related expenses, $50; and water, $25.

Chrysler Credit seized a Dodge Durango for non-payment of lease, according to the papers.

MacIsaac blames the taxman for his financial problems.

Under the heading "Give reasons for your financial difficulty," the

documents say: "Income tax related to untaxed deemed income drawn from the company."