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Another of the region's late 1980s land speculators and developers filed for bankruptcy protection last week, after racking up more than $25.7 million in debts.
Poffel & Walker Inc., a Towson real estate development firm, filed for Chapter 11 protection from its creditors on Nov. 14. The firm's filing lists assets of $2.6 million and liabilities of $25.73 million.
Among Poffel & Walker's substantial creditors are nine of the area's major commercial lenders, including Sovran Bank/Maryland, Mercantile-Safe Deposit & Trust Co., First American Bank, Maryland National Bank and Chevy Chase Federal Savings Bank.
The firm's two largest creditors, Sovran Bank and …