Final answer:
In a Chapter 11 proceeding, a bankruptcy examiner is appointed to investigate fraud or misconduct by the debtor or its principals. They play a critical role in reviewing financial statements and transactions to ensure legal compliance and integrity.
Step-by-step explanation:
The person appointed by a bankruptcy judge in a Chapter 11 proceeding to investigate allegations of fraud or misconduct by the debtor or its principals is known as a bankruptcy examiner. This role is particularly crucial when there are complexities or suspicions in a case that require an independent review. The examiner's duties might include reviewing financial statements, transactions, and operations of the debtor to ensure compliance with bankruptcy laws and to uncover any fraudulent behavior.