Real estate developer Randal Walters owes $37 million in unsecured debts, primarily to banks, investment partners and vendors, according to financial statements filed July 25 in his Chapter 7 bankruptcy case.

Walters filed to liquidate assets under federal bankruptcy law on June 29 in what is referred to as a “short form” filing that provides only sketchy details of the debtor’s financial situation. Walters said his debts are business-related.

Walters had previously filed to reorganize the finances of a real estate management company called Griz Lee LC. However, that case was dismissed.

In the recent filing, Walters cites a litany of court cases, some of which have been settled, related to the financing of development projects that included companies controlled by John Kline, who is facing a federal civil trial on allegations that he intentionally set a fire in February 2009 that destroyed his million-dollar home in Urbandale.

In the most recent bankruptcy filing, Walters cited total debts of $38 million and assets of $1.3 million, including his home in West Des Moines.

Walters said his business operations lost $3.3 million in 2008 and $726,680 in 2009. Business income for 2010 and 2011 was not listed.

According to bankruptcy court documents filed on his behalf, Walters has been a defendant in 52 lawsuits, with nine of those cases still pending. The most recent case was filed June 13 by Northwest Bank in Dickinson County, where Walters listed a $10,000 property tax bill.

In most cases, a bankruptcy filing places an automatic stay on debt collection efforts, including those that result in lawsuits.