Qtron to help stage New York musical

Press, 12 January 1987, Page 26

Qtron to help stage New York musical

Qtron Holdings, Ltd, has become another New Zealand company to work on producing stage shows overseas, using money from this country’s investors. Challenge Corporate Services, Ltd, later Strada Holdings, Ltd, was one of the first New Zealand companies to be involved In financing stage musicals overseas. Qtron has launched an

ordinary partnership for the stage musical “Staggerlee,” in New York, after the 1986 Budget introduced provisions concerning special partnerships. The company is seeking a maximum of 24 investors, each contributing a minimum of SNZ2O.OOO, and a loan guarantee of $lOO,OOO. ** The musical is baseii on the exploits of "Stagger-

lee,” a character made famous in the hit song by Lloyd Price in the 19505. The music, which centres on New Orleans, would be composed by pianist, singer and songwriter, Allen Toussaint, who is from that city. The script, lyrics, and direction would be made by Vernel Bagneris. Toussaint and Bagneris previously worked on another musical “One Mo’

Time,” which ran for four years in New York, had two United States tour, and a tour in Europe. There were significant tax advantages expected for. investors, who would expect to receive more than four times their capital contribution as a deduction from assessable incafoe in the year to Mapi 31, 1987, Qtron