The contractor Zachry Holdings, based on San Antonio, said that on January 24 he has received approval from the American bankruptcy court to request a key creditor support for the firm and 20 subsidiaries to leave Chapter 11 of the state of March 31.
The company’s failure presentation resulted in a significant cost dispute with the owners of the Golden Pass LNG export terminal terminal project near Port Arthur, Texas, of which he was the main contractor, but He then agreed to leave the project.
The former Chiyoda International Corp and Mcdermott International partners are running the completion of the project, with an estimated cost now $ 11.6 billion. About 1,700 claims have been filed for more than $ 23 billion in bankruptcy, with a number still in dispute, according to a court presentation.
“We are pleased to have submitted the revised plan with the complete support of our providers and the Official Committee of Ungrateful General Creditors,” Zachry said in a statement. The voting period of the creditor is February 20.
Zachry also agreed last year to pay $ 7 million to resolve a class demand for former employees who stated that the firm did not follow the federal law in their layoffs while the project was submitted.
The owners of Golden Pass Exxonmobil and Qatarenergy last year requested federal approval to expand the completion of the project by 2029, but wait for the first gas production at the end of 2025.
