Another problem with mk/* files using empty variables

[Raymond Meyer <raymond.meyer%rambler.ru@localhost>]

This is on Solaris 10

install in fonts/encodings/large done
/bin/sh: syntax error at line 1: `;' unexpected
*** Error code 2

Stop.
bmake: stopped in /opt/pkgsrc/fonts/xorg-fontsEncodings
*** Error code 1

And below is the output from 'truss'

21311:  execve("/bin/sh", 0x0004C230, 0x00053E2C)  argc = 3
21311:   argv: /bin/sh -c
21311:    for dir in ; do  cd 
/opt/pkg.obj/fonts/xorg-fontsEncodings/work.ultra10/xc/${dir} && 
/usr/ccs/bin/make install.man;  done
21311:   envp: PKG_DEBUG_LEVEL=0

Can anyone suggest what file under pkgsrc mk/ directory this could be coming 
from?