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Defendants.
Alysson Mills, in her capacity as the court-appointed receiver (the “Receiver”) for Arthur
Lamar Adams and Madison Timber Properties, LLC, through undersigned counsel, respectfully
moves the Court to enter the attached proposed Order Approving Settlement,1 which approves
the Receiver’s Settlement Agreement with Century Club Charities, Inc. (“Century Club
1.
The Receiver does not allege any wrongdoing by Century Club Charities. The Receiver
and Century Club Charities have determined, however, that Century Club Charities received cash
contributions from Arthur Lamar Adams and Terry Wayne Kelly that were proceeds of the
Madison Timber Ponzi scheme. Upon information and belief, the total amount of those
1
Pursuant to the Court’s Administrative Procedures for Electronic Case Filing, Sec.5.B, the proposed Order
Approving Settlement is being transmitted via e-mail to Judge Reeves’s chambers simultaneous with the filing of
this motion.
Case 3:18-cv-00252-CWR-FKB Document 158 Filed 06/28/19 Page 2 of 4
2.
The Receiver and Century Club Charities have agreed to amicably resolve the
3.
Century Club Charities previously returned to Kelly funds in the amount of $28,000
reflecting contributions made by Kelly in 2018. These funds were part of funds returned to the
4.
Century Club Charities agrees to return to the Receivership Estate additional funds in the
amount of $56,944, reflecting the remaining amount of contributions Century Club Charities
received from Adams and Kelly, minus the value of tangible benefits received by Adams or
Kelly for those contributions. In turn the Receiver shall release all claims the Receivership Estate
has or may have against Century Club Charities for contributions by Adams and Kelly to
5.
As the accompanying memorandum shows, the proposed settlement reflects the full
amount of cash contributions to Century Club Charities minus the value of tangible benefits that
Adams or Kelly received for those contributions. The Receiver believes this is fair and
reasonable consideration for the avoidance of the time and expense that would have
6.
between the Receiver and Century Club Charities, both represented by highly capable counsel.
Case 3:18-cv-00252-CWR-FKB Document 158 Filed 06/28/19 Page 3 of 4
7.
The Receiver appreciates Century Club Charities’ willingness to return the full amount of
contributions that it received from Adams and Kelly, minus the value of tangible benefits that
Adams or Kelly received for those contributions, and hopes that its example may encourage
8.
The Receiver believes settlement on the proposed terms without litigation unquestionably
is in the Receivership Estate’s best interests. The Receiver thus recommends that the Court
approve the Settlement Agreement by entering the proposed Order Approving Settlement.
WHEREFORE the Receiver asks that after due consideration the Court enter the
________________________
Case 3:18-cv-00252-CWR-FKB Document 158 Filed 06/28/19 Page 4 of 4
CERTIFICATE OF SERVICE
I certify that I electronically filed the foregoing with the Clerk of Court using the ECF
Jeffrey P. Hubbard
hubbard@hubbardmitchell.com