Golden Pass LNG and one of the project’s engineering, procurement and construction (EPC) contractors, Zachry Holdings, have agreed to settle multiple disputes regarding the construction contract and other issues that emerged in Zachry’s Chapter 11 bankruptcy case filed in May. A judge approved the settlement on Wednesday (7/24) on an interim basis with final approval expected next month.
The bankruptcy filing brought work on the project to a standstill because Golden Pass’s EPC contract was included in an automatic stay on Zachry’s operations issued when the Chapter 11 case was filed, as is typical. Golden Pass said on Wednesday that the judge's interim approval will allow other construction contractors to ramp up work at the site and rehire local workers and vendors.
