D is corrent because under the Reorganization Chapter of the Bankruptcy Code, a person is not disqualified for employment by a debtor because of such person’s employment by the debtor before the commencement of the Reorganization proceedings. Therefore, the debtor does have the right to retain its own accountant to represent it. The Code also states that although the debtor in possession does have many of the same rights as a trustee, it does not have the right to be compensated in the same manner.
A is incorrect because the debtor does have the right to retain its own accountant to represent it. Thus, statement II is true.
B is incorrect because although the debtor does have the right to retain its own accountant, the debtor does not have the right to be compensated in the same manner as a trustee. Thus, statement I is false.
C is incorrect because the Bankruptcy Code states that although the debtor in possession does have many of the same rights as a trustee, it does not have the right to be compensated in the same manner.
|
