Developers bankrupt


Maryland developers Martin and Paula M. Kandel have filed for liquidation of their assets under Chapter 7 of the federal bankruptcy code, leaving scores of banks, area contractors and investors with large claims.

The Kandels, who had dozens of real estate-related businesses, had already lost many of their investments in real estate developments to foreclosures, said Baltimore attorney Joseph Schaller, who represents twoof the Kandels' creditors.

"They were fairly well known," Mr. Schaller said of the Kandels' companies scattered across Maryland.

The Kandels' holdings included Piedmont Holdings, Gotham Realty, Shoreline Development, Sweet Air Properties, Courthouse Point Development, Glen Mill and many others.

The Kandels did not list the value of their assets or liabilities in the filing, which was made Monday.

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