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Bessemer Trust has requested to withdraw from serving as a conservator of Britney Spears' estate.
In November the court-appointed the wealth-management firm to split duties with Spears' father.
On Friday, Judge Benda Penny approved Bessemer Trust's request to be removed as a coconservator.
The independent financial firm serving as a conservator of Britney Spears' estate alongside her father, Jamie, has asked to withdraw from the guardianship in light of the pop star's damning testimony, according to court documents filed in court Thursday.
On Friday, Judge Benda Penny approved Bessemer Trust's request.
Bessemer Trust, a wealth-management firm that was set to share conservatorship duties with Jamie Spears, asked to resign from the arrangement, citing "irreparable harm" to the younger Spears' interests.
The request came a day after a judge denied Spears' request to remove her father as her conservator and end the guardianship for good. Judge Brenda J. Penny on Wednesday ruled that the elder Spears and Bessemer Trust would retain equal power over the pop star's finances and person.
In court documents reviewed by Insider, a representative for Bessemer Trust cited Spears' bombshell testimony in court last week, noting her "objection to the continuation of her voluntary Conservatorship and her desire to terminate the conservatorship."
"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. Petitioner has heard the Conservatee and respects her wishes," the court filing said.
Bessemer Trust was appointed by the court to be a coconservator in November 2020, but had not yet started its duties, nor received any assets or taken any fees, according to The New York Times.
She alleged that under the conservatorship she was overworked, overmedicated, and prohibited from getting married, having additional children, and removing her birth-control device - all of which she said her father played a role in overseeing.
"It's my wish and my dream for all of this to end," she said while addressing the judge in a Los Angeles courtroom last week.
Jamie Spears, who has faced social-media backlash since Spears' testimony went public, denied in separate court documents filed Tuesday that he had made personal and medical decisions about his daughter.
His legal team pointed to Jodi Montgomery, a coconservator, and Spears' attorney Samuel D. Ingham, III, saying the elder Spears stopped making decisions related to his daughter's "personal affairs" after Montgomery signed on as a temporary conservator in September 2019.
"Ms. Montgomery has been fully in charge of Ms. Spears' day-to-day personal care and medical treatment," Tuesday's court document said. "Ms. Montgomery has made such decisions regarding Ms. Spears' personal care and medical treatment in consultations with Mr. Ingham - and which consultations specifically excluded Mr. Spears."
When reached by Insider, a representative for Montgomery countered Jamie Spears' claims and said over email that Montgomery had been a "tireless advocate" for Spears since she became the pop star's coconservator.
"Britney's choice to marry and to start a family have never been impacted by the conservatorship while Ms. Montgomery has been conservator," the email statement said in part.
Read the original article on Insider