A financial firm appointed to co-manage Britney Spears’ finances has stepped down following her powerful courtroom testimony. Bessemer Trust announced its resignation, stating it respects Britney’s wishes. This decision reverts Jamie Spears to being the sole financial conservator for his daughter.
In a recent court ruling, a Los Angeles judge denied Britney’s request to remove her father as conservator but recognized that Jamie having full control was excessive. Consequently, Bessemer Trust was designated as a co-conservator alongside Jamie. However, just a day later, the company filed a motion to withdraw from its role, citing Britney’s emotional and shocking testimony, in which she described the conservatorship as “oppressive” and “abusive.”
Bessemer Trust, which had been appointed in November by Judge Brenda Penney, noted that they had not yet received any assets or fees from Britney’s estate and were unaware of her true feelings about the conservatorship. Their motion indicated that they initially believed the arrangement was voluntary and supported by all parties involved, but Britney’s testimony changed their understanding.
While their withdrawal must be approved by the court, it raises concerns as it leaves Jamie Spears in control of Britney’s finances, something she has vehemently opposed for years, expressing fear of her father and a desire for a more neutral conservator.
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In summary, Bessemer Trust’s resignation as co-conservator highlights Britney Spears’ ongoing struggle for autonomy over her finances and life, while her father’s control remains intact.