In the intricate domain of corporate insolvency, restructuring and consulting, where every case presents unique challenges, Mukul Manchanda stands out as a beacon of expertise and practicality. As Managing Partner of Spergel Corporate, his journey into this specialized field is a testament to the adage that sometimes, the most unexpected paths lead to remarkable destinations.

"I fell into it," says Mukul, reflecting on his entry into the realm of insolvency. "Insolvency is a unique sort of business, you generally don't plan to be in insolvency unless one of your family members is in insolvency. So either you fall into it, or you're born into it, at least that's what they say. So I fell into it."

His journey began to take shape around 2008, where he found himself navigating the turbulent waters of insolvency proceedings at the company he was working for at the time. A pivotal moment came when the insolvency trustee handling his company's insolvency proceedings offered him a role in the insolvency field at his own shop-an offer he accepted without hesitation. "We had a handshake deal," Mukul reminisces, "and I worked with him for about 10 years, up until 2017 when he helped me get my license."

In 2017, Mukul embarked on a new chapter of his career by joining Spergel Corporate as a principal, armed with his insolvency trustee license. Within a remarkably short span, his dedication and acumen propelled him to the position of Partner within two years, eventually culminating in his appointment as Managing Partner of the corporate division in 2021.

The journey to Spergel was fortuitous, facilitated by a banking contact who recognized Mukul's potential and encouraged him to explore new opportunities. "The way I came to Spergel Corporate is actually through one of my banking contacts who encouraged me to reach out and have a conversation," Mukul recounts. "And here we are!"

At the heart of Mukul's role lies the arduous task of navigating complex insolvency cases, each presenting its own set of challenges. "Our files are challenging, our files are litigious," he explains, citing the Toronto Artscape case as an example, which involves navigating issues of affordable housing and tenant rights. "You have to be very receptive to what people are saying, but at the same time, try and get the best deal or the best outcome for the stakeholders."

Indeed, the nature of insolvency work demands not only legal expertise but also a knack for investigative work. Mukul recounts instances where assets, such as trucks, went missing, requiring him to collaborate with the police to recover them. "Sometimes you're able to find [the assets]. sometimes you're not," he remarks, underscoring the inherent challenges of the profession.

One of Mukul's key insights into the field is the importance of being a trusted advisor-a distinction earned through years of dedication and unwavering commitment to clients. "Spergel Corporate didn't become a trusted advisor overnight," he emphasizes. "This is 35 years worth of constant hard work starting with Alan carrying the torch all the way to today."

Spergel Corporate's distinctiveness in the field of insolvency lies in its freedom from conflicts of interest, a result of not having an accounting practice. This absence of conflicts enables Spergel Corporate to swiftly and efficiently assist clients, often being ready to respond to their clients within a mere 10 minutes, according to Mukul. This commitment underscores Spergel's dedication to delivering exceptional customer service, and effective, at times creative solutions in the complex realm of corporate insolvency.

For young professionals who are interested in corporate insolvency work, Mukul's advice is simple yet profound: "Be patient, learn a lot, ask the questions, go out and meet people." He stresses the value of on-the-job learning, emphasizing the importance of building relationships, nurturing contacts and growing one's network-a sentiment rooted in his own experiences.

Beyond his role at Spergel Corporate, Mukul is actively involved in shaping the future of the firm, ensuring a seamless transition for generations to come. With a true succession plan in place, Spergel Corporate is poised to continue its legacy of excellence in the years ahead .

Looking ahead, Mukul is excited about the prospect of expanding Spergel Corporate's reach into the US market and beyond through strategic partnerships. "We're looking to bring two different law firms into our network to expand our services to the US.and that's just the beginning" he reveals, highlighting the firm's commitment to providing comprehensive support to clients across borders.

Mukul's journey from humble beginnings to a leadership role at Spergel Corporate is a testament to his work ethic, integrity, and unwavering dedication to his craft. As he continues to navigate the complexities of corporate insolvency with grace and tenacity, his story serves as an inspiration to aspiring professionals and a testament to the transformative power of seizing unexpected opportunities.

Spergel Corporate stands as a beacon of resilience in the Canadian insolvency landscape, having navigated countless businesses toward financial stability with expertise and compassion. Spergel Corporate's proven track record of success, commitment to empowering clients and fostering economic recovery continues to shine brightly, shaping a brighter future for those they serve.