In a four-quart (four litre) pot, heat half of the butter with the oil over medium heat. Season the seafood with the seafood seasoning, sear the cod and scallops for three minutes until opaque, set aside on a plate.
Add remaining butter to melt. Add onion, celery, leeks and cook for three minutes, add garlic, cook for one minute, add potatoes, carrots and cook for an additional five minutes while stirring.
In the bowl of a food processor add one cup of milk, red bell peppers and purée. Set aside.
Add the flour to the pot and stir for one minute. Gradually add in the remaining milk while stirring and scaping the bottom of the pan with the spoon. Add the wine, bay leaf, thyme, stock, stir in the bell pepper mixture, and bring up to a boil to thicken, lower heat to simmer and cook for 15 minutes or until potatoes are tender when pierced with a knife.
Add corn, half of the bacon, seafood and cook for an additional five to ten minutes. Season to taste with salt, pepper and serve at once in bread bowls garnished with sage leaves and bacon crumble. the other bowls and serve at once.