Newfoundland and Labrador · Receivership (court-appointed)
Affidavit of Martine Langlois
Affidavit · 13 January 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- secured creditorsnote: Total loan indebtedness amount as of Jan 6, 2026 per affidavit; plus unpaid professional fees of $148,511.99 (exclusive of work-in-progress); interest continues to accrue at approx. $100,000/month. Facilities include Operating Line of Credit and multiple Default Loans. Secured also by: personal guarantee of Shawn Croft limited to $17,200,000 (related party - guarantor); personal guarantee of Travis Lennox limited to $3,000,000 (related party - guarantor); corporate guarantee of Lennox Fisheries Limited limited to $3,000,000; corporate guarantee of Dominion Trading Limited (DTL), initially limited to $10,600,000 (Jan 2023) later amended to $17,200,000 (per July 2023 Letter of Agreement amendment) - DTL is co-applicant debtor in this CCAA proceeding. GSAs also registered against DTL (NL 20505947/20948527; NS 3736700/38131009), Shawn Raphael Croft (NL 20505988; NS 37364304) and Travis Lennox (NL 20505996; NS 37364254) as guarantors, over all present and after-acquired personal property including specified fishing licenses. Demand letters and NOI under BIA s.244 issued to ICII, DTL, Lennox Fisheries Limited, Travis Lennox and Shawn Croft on or about December 10, 2024. · page: 2 · as of: 2026-01-06 · amount: 16964283.8 · debtor: Innovative Capital Investments Inc. (ICII) · creditor: Bank of Montreal (BMO) · currency: CAD · security: Registered General Security Agreements (GSA) over all present and after-acquired personal property of ICII (NL Reg. No. 20505962/20948568; NS Reg. No. 37364676/38131090), including fishing licenses; Marine Mortgages over vessel R.S. Journey II (registered $1,800,000) and Hull #394/R.S. Journey (registered $2,100,000); Marine Loan Agreements dated Jan 20, 2023 over both vessels with Lennox Fisheries Limited, Dominion Trading Limited, Shawn Croft and Travis Lennox as guarantors