The Bermuda Land Development Company wrote off around $375,000 owed to the quango in just four years, according to figures released by the Bermuda Government.

The Ministry of Public Works provided the information in response to a Parliamentary question by Progressive Labour Party MP Derrick Burgess.

The data details that for the year ending March 31, 2010 $187,511 was written off by the BLDC with the authorisation of the BLDC CEO.

The full response states: “$131,096 was written off after discussion with the tenant about the accuracy of lease charges, but there is limited information about the basis for the additional $56,415.26.” During the next year $189,348 owed to the BLDC was written off with the authorisation of the former BLDC board chairman. The figure related to money owed from a former tenant who offered assets in exchange for the debt. In the past two full-year periods no income has been written off by the BLDC.

Meanwhile, in the past eight years the West End Development Corporation (Wedco) has only written off funds owed it on one occasion in the year ending March 31, 2014.

The $160,809 owed to Wedco was written off after consultation with the Ministry of Finance due to the liquidation of companies, people no longer living in Bermuda and debts being older than 120 days as far as seven years.