Theatre trust 'shackled' by additional debt to councilColin Smith The Nelson Theatre Trust already owed $1.5 million to the Nelson City Council. The trust that runs the Theatre Royal has been given an additional $600,000 loan from the council. Nelson Historic Theatre Trust already owed $1.5 million to the Nelson City Council and the $632,256 loan it was granted brings the total debt owed to the council to over $2.1mil. Nelson City Council's Audit, Risk and Finance subcommittee on Tuesday took on additional debt from the trust. Taking on the extra debt would increase interest payments to the council to $60,000 a year to council.

Source: Stuff March 20, 2018 05:15 UTC