Impel Pharmaceuticals’ plan draws limited objection from U.S. trustee

By Sarah Lizee

Olympia, Wash., March 27 – Impel Pharmaceuticals Inc.’s Chapter 11 plan of liquidation drew a limited objection from the U.S. trustee overseeing the case, according to documents filed Wednesday with the U.S. Bankruptcy Court for the Northern District of Texas.

Region 6 U.S. trustee Kevin M. Epstein said he objects to the broad exculpation and releases sought by Impel through the plan.

Epstein said the debtors should remove their professionals, officers and plan administrator from the definition of “exculpated parties” or deny confirmation of the plan.

Impel Pharmaceuticals is a commercial-stage pharmaceutical company. The company filed bankruptcy on Dec. 19 under Chapter 11 case number 23-80016.

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