Saskatchewan investor wins $2M judgment against Stephenville airport owner Carl Dymond
Matthew Poppel provided $1.1M cash infusion that helped acquisition close
A Saskatchewan man whose financial backing helped clear the way for the sale of the Stephenville airport has won a default judgment of nearly $2 million against Ottawa businessman Carl Dymond.
And now that investor wants the judgment in Newfoundland and Labrador registered in Ontario as well, as he attempts to recoup the cash.
According to sale transfer documents, a Dymond-directed numbered company acquired the western Newfoundland airport in the summer of 2023 for $6.90 and the payment of $1.1 million in existing liabilities.
Mortgage records show that Matthew Poppel of Saskatchewan provided Dymond's company with $1.1 million a few months before the deal closed. The cash was secured by the airport property.
The business publication AllNewfoundlandLabrador.com has reported that the Stephenville airport investor is the same Matthew Poppel who won a $55-million Lotto Max jackpot in 2021.
Court filings obtained by CBC News show that relations between Poppel and Dymond flew south soon after the airport acquisition.
According to Poppel's statement of claim, filed at Newfoundland and Labrador Supreme Court, the Dymond company behind the airport agreed to repay $1.1 million plus interest by Oct. 12, 2023 — less than two months after Dymond took over.
And days before the airport deal closed, Dymond personally guaranteed that airport debt.
In late 2023, Poppel wrote to Dymond and his company demanding repayment.
But according to the statement of claim, that didn't happen, and the entire debt remained outstanding.
Poppel sued last April, and won a default judgment in September when Dymond didn't file a statement of defence. According to court documents, interest owed to Poppel during that time was accumulating at a rate of $1,839.46 a day.
The current total amount owing is $1,972,525, according to a judgment registered against Dymond at the provincial sheriff's office. That includes pre-judgment and post-judgment interest costs.
Poppel wants judgment registered in Ontario
Poppel has since filed an application to have that Newfoundland and Labrador judgment registered in Ontario so it can be enforced there. Dymond lives in an Ottawa suburb.
In an affidavit at the Ontario Superior Court of Justice, Poppel indicated that Dymond was personally served with notice of the Newfoundland and Labrador judgment in February.
He noted that Dymond has not moved to set aside the judgment, or file an appeal.
"Furthermore, to date, [Dymond] has not paid any portion of the judgment," Poppel wrote in the March 4 affidavit.
"I am concerned that if we do not proceed to register and enforce the judgment quickly, [Dymond] will deplete most or all of his assets and make enforcement of the judgment even more challenging."
That matter is scheduled to be heard at court in Ottawa in July.
A message left for Poppel Wednesday, through his lawyer in Saskatchewan, was not returned.
Airport facing financial, legal, operational woes
In a separate court matter, Dymond's numbered company that owns the airport is being sued for $2.4 million by Tristar Electric over unpaid bills related to work on the airport's runway lighting system. That claim has not been tested in court.
When the matter was called at Newfoundland and Labrador Supreme Court in St. John's earlier this month, Dymond was not there. His company's lawyer, who was present, got permission from the judge to withdraw from the case, citing unpaid legal bills. That case is due back in court May 1.
The legal woes come at the same time as operational problems — news that the airport in Stephenville has been downgraded to a "registered aerodrome," following an official notice that was issued Feb. 28.
This means pilots using Stephenville are expected to contact the owner of the facility to ensure it is compliant with Canadian Aviation Regulations.
When reached earlier this month, Dymond said in a statement the reason the classification was changed is "due to improper line painting on the runway and taxiways."
He said he has hired a contractor to complete the work needed, and that is expected to commence in May.
WATCH | The CBC's Troy Turners reports on the money Dymond owes:
To date, the airport has not paid property taxes to the town. According to recent town estimates, that bill is approaching $500,000.
All this is a stark contrast to the celebratory announcement Dymond made in 2021, which detailed his huge plans for the airport, including the manufacturing of drones the size of a Hercules aircraft, hundreds of millions in spending, and the creation of thousands of jobs.
Dymond did not respond to requests for comment Wednesday.
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