On August 21, 2026, the Receiver filed a motion that asks the Court to approve proposed settlements worth up to $6,500,000. The settling defendants, and the amounts they have agreed to pay, are as follows:
- The UPS Store (TUPSS): $5,000,000
- Notaries employed by The UPS Store Madison, pursuant to a promissory note executed by Dexter Herring, the franchisee-owner of The UPS Store Madison: $1,500,000
- American Casualty: $50,000
Like prior settlements with Butler Snow, Bank Plus, Trustmark, RiverHills Bank, Southern Bancorp Bank, and Rawlings & MacInnis, the proposed settlements with TUPPS and notaries employed by The UPS Store Madison require not only the Court’s approval but also the entry of a “bar order.” A bar order would bar any person from separately asserting claims arising out of the Madison Timber Ponzi scheme against a settling defendant. Those claims instead would be “channeled” through the Receivership Estate.
Victims of the Madison Timber Ponzi scheme, as the ultimate beneficiaries of the Receivership Estate, have a substantial interest in the Receivership Estate’s settlement of claims against the settling defendants. The Court, mindful of this fact, agrees with the Receiver that interested parties should have an opportunity to be heard before any proposed settlement is approved.
The Court’s Order Setting Hearing provides that:
1. The Court shall hold a public hearing on the proposed settlements on October 26, 2026 at 9:00 a.m. in Courtroom 5B of the Thad Cochran United States Courthouse, 501 E. Court Street, Jackson, Mississippi, 39201.
2. Anyone who wishes may submit a written comment, for or against a proposed settlement, at least seven days prior to the public hearing. Written comments may be submitted either to the Court or to the Receiver:
To the Court:
Judge Carlton Reeves Chambers
501 East Court Street, Suite 5.500
Jackson, Mississippi 39201
To the Receiver:
Alysson Mills, Receiver
650 Poydras Street, Suite 1525
New Orleans, Louisiana 70130
3. Interested parties who wish to speak at the hearing may do so.
4. For more information, contact the Receiver directly or click here for: