Which of the following statements about hiring accounting or fraud professionals in bankruptcy proceedings is NOT correct?
a. If the trustee wants to employ attorneys, accountants, or other professionals to represent or assist the trustee, the trustee has to get the court's approval.
b. All the professionals must be employed under Code section 327.
c. The retention of a fraud examiner or investigator in a bankruptcy proceeding is up to the discretion of the trustee.
d. A creditor may engage the services of a professional to investigate allegations of bankruptcy fraud independently from the court. In this case, the creditor usually compensates the professional directly.
c
FEEDBACK: a. Incorrect. This statement is correct.
b. Incorrect. This statement is correct.
c. Correct. The bankruptcy judge must approve the retention of a fraud examiner or investigator.
d. Incorrect. This statement is correct.
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