Bessemer Trust, the firm hired to oversee Britney Spears’ financial affairs alongside her father, Jamie Spears, has pulled out of her conservatorship, according to a new report.
The New York Times said the private company — which manages more than $140 billion in assets — filed a court document on Thursday stating that it wanted to resign as a result of the information its team learned from Britney’s 24-minute testimony on June 23.
The firm alleged in court papers that it was under the impression the conservatorship was voluntary, but Britney, 39, made it clear in court that she wanted it terminated following serious allegations of “abuse” by her conservators.
“As a result of the conservatee’s testimony at the June 23 hearing, however, Petitioner has become aware that the Conservatee objects to the continuance of her Conservatorship and desires to terminate the conservatorship,” Bessemer Trust said, per the Times. “Petitioner has heard the Conservatee and respects her wishes.”
Sources told TMZ on Thursday that aside from wanting to comply with Britney’s own wishes, the firm allegedly also had issues with Jamie, 68, and Britney’s court-appointed attorney, Samuel D. Ingham III.
Ingham brought Bessemer Trust on board in November 2020 to help Jamie manage his daughter’s estimated $60 million fortune — a decision that Los Angeles Superior Court Judge Brenda Penny approved at the time.
In a previous statement to Page Six, Jamie’s attorney, Vivian Lee Thoreen, said his client had looked “forward to working with Bessemer.”
“The Probate Court’s rulings today show the court’s confidence in our client Jamie Spears and Bessemer Trust to manage the conservatorship of Ms. Spears’ estate together,” the attorney said in February. “My client looks forward to working with Bessemer to continue an investment strategy in the best interests of his daughter.”
However, Ingham had previously filed a request to make Bessemer Trust the sole conservator of Britney’s estate to push Jamie out, but Judge Penny formally declined that on Wednesday.
“The conservator’s request to suspend James P. Spears immediately upon the appointment of Bessemer Trust Company of California as sole conservator of estate is denied without prejudice,” court documents filed on Wednesday stated, according to Variety.
With Bessemer Trust’s departure, it seems Jamie will remain as the sole conservator of his daughter’s estate unless the conservatorship is terminated. Professional fiduciary Jodi Montgomery remains the temporary conservator of the person for the time being.
Reps for Jamie, Britney, Ingham and Bessemer Trust could not immediately be reached for comment.
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