Company Set To Co-Manage Britney Spears' Conservatorship Asks To Withdraw
The wealth management firm that had planned to act as co-conservator of Britney Spears's financial dealings has asked to leave the arrangement. In its request filed in Los Angeles Superior Court on Thursday, the company, Bessemer Trust, cited the singer's anguished comments in court just over a week ago.
The company, which is a professional wealth management firm, said that until Spears spoke in court on June 23, it had believed that Spears was in the conservatorship voluntarily, and that she had consented to Bessemer Trust's entrance as co-conservator alongside Spears' father, Jamie Spears.
In its filing, Bessemer stated: "As a result of the conservatee's testimony at the June 23 hearing, however, Petitioner [Bessemer Trust] has become aware that the conservatee objects to the continuance of her conservatorship and desires to terminate the conservatorship. Petitioner has heard the conservatee and respects her wishes."
The company also said its role had not yet taken effect. It wrote that it is "not currently authorized to act, has taken no actions as conservator, has made no decisions as conservator, has received no assets of the estate [and] has taken no fees."
Just yesterday, the Los Angeles Superior Court judge presiding over the case, Brenda Penny, denied the singer's request to have her father removed from the financial aspects of her conservatorship.
As of now, Spears' court-appointed lawyer, Samuel D. Ingham III, has not filed a petition to terminate the conservatorship. The next court date is scheduled for July 14.
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