By Andrew Scurria 

The contractor for a pedestrian bridge at Florida International University that collapsed is plotting a return to the construction business while negotiating a bankruptcy settlement fund for those killed or injured in the accident.

Magnum Construction Management LLC entered chapter 11 last week after the bridge collapse last March set off a federal investigation, sparked 18 personal injury and wrongful-death lawsuits and cost the company $200 million in project revenue.

Company lawyer Jordi Guso said during MCM's initial appearance Wednesday in the U.S. Bankruptcy Court in Miami that the contractor was optimistic it could negotiate a settlement to the lawsuits, regain certifications and once again bid for construction work.

While those lawsuits are now paused by the bankruptcy, Mr. Guso said MCM would participate in a mediation scheduled for March 20 in an effort to reach a global settlement.

"MCM did not commence this case to evade any liability that may be ascribed to it in connection with the collapse of the bridge," Mr. Guso said.

Filing for chapter 11 to create a centralized settlement forum is a popular strategy for companies beset with large numbers of negligence and product liability lawsuits. Bankruptcy rules give troubled organizations the chance to pool money for victims from their assets, including insurance coverage, and set deadlines for claimants to come forward.

MCM Chief Financial Officer Gilberto Ruizcalderon said in a sworn declaration that bankruptcy would resolve more quickly claims around the bridge collapse -- which killed six and injured 10 -- and eliminate the risk of some victims collecting more than others as the company's assets were depleted.

Key to a global settlement between MCM and its creditors is $42 million in insurance money earmarked for defending and eventually settling the lawsuits. Insurers are furnishing defense money while discussing the creation of a trust fund for the benefit of injury and death claimants, according to court papers.

MCM now has fewer than 300 employees, down from more than 1,000 before the FIU bridge collapse, which is still under investigation by the National Transportation Safety Board. The company, which after the collapse changed its name from Munilla Construction Management, and the agency are both under gag orders that block them from divulging the cause of the accident, Mr. Guso said.

MCM has proposed handing equity control over to Florida-based Frigate Group Holdings LLC in exchange for a contribution of real estate to the reorganized company.

Mr. Ruizcalderon said MCM's annual revenue fell to $126.7 million last year from $297 million in 2017 and $265 million in 2016 after the company lost the ability to bid for new work. But the company has dozens of other heavy construction projects ongoing.

Write to Andrew Scurria at andrew.scurria@wsj.com