San Antonio-based contractor Zachry Holdings Inc. said Jan. 24 it has received U.S. bankruptcy court approval to seek key creditor support for the firm and 20 subsidiaries to exit Chapter 11 status by March 31. 

The company’s bankruptcy filing last May stemmed from a major cost dispute with owners of the Golden Pass LNG export terminal construction project near Port Arthur, Texas, of which it was lead contractor but later agreed to leave the project. 

Former partners Chiyoda International Corp. and McDermott International are executing project completion, with estimated cost now at $11.6 billion. About 1,700 claims totaling over $23 billion have been submitted in the bankruptcy, with a number still in dispute, according to a court filing. 

“We are pleased to have filed the revised plan with full support from our senior lenders and the official committee of general unsecured creditors,” Zachry said in a statement. The creditor voting deadline is Feb. 20. 

Zachry also agreed last year to pay $7 million to settle a class-action lawsuit by former employees claiming the firm failed to follow federal law in its layoffs while exiting the project. 

Golden Pass owners ExxonMobil and QatarEnergy last year requested federal approval to extend the project’s completion to 2029, but they expect first gas production by the end of 2025.