KeyTech Limited has written off $5.1 million in investments with Lightrade Limited.

KeyTech - which is the parent company of BTC, BTC Mobility and Logic Communications - said the decision to write of the investment followed Lightrade's filing for bankruptcy.

A press statement reported: “Lightrade was in the business of providing neutral pooling points for bandwidth trading.

“Lightrade has been hard hit by the telecommunications recession, the World Trade Center tragedy and the demise of Enron, the leading bandwidth trader. Lightrade filed for Chapter Seven bankruptcy in Delaware on March 1, 2002."