Money management firm abandons Britney Spears conservatory

Following Britney Spears’ dramatic testimony demanding the end of the trusteeship under which she has lived for 13 years, a financial management firm that has been appointed to act as co-curator of her estate on Thursday asked to step down from the case.

Bessemer Trust Co. was appointed in November to act as co-curator of the Spears estate, along with the singer’s father, Jamie. Although the judge overseeing the guardianship agreed to the move in November, she didn’t sign the actual documents until Wednesday, now Jamie Spears as co-custodian of the estate.

But on Thursday Bessemer filed court documents saying he wanted to withdraw from the arrangement, citing Britney Spears’ clear statements in open court last week that she was unwittingly under guardianship. According to court documents, the company initially agreed to play the role of co-curator with the understanding that Spears consented to the move.

“Following the testimony of the Curator (Spears) at the hearing on June 23, however, the petitioner (Bessemer) learned that the Curator opposes the continuation of her trusteeship and wishes to end the trusteeship,” according to the court document.

The company “respects its wishes” and has asked to step down from its role, according to the document.

A hearing on the company’s request could take place as early as Friday morning.

Although Bessemer was technically appointed in November, since court documents were not officially signed until Wednesday, the company had never been actively involved in the case – meaning Jamie Spears essentially acted as the sole curator of his daughter’s estate.

With Bessemer stepping down, he will continue in that role – despite Britney Spears’ vehement remarks in court last week lambasting her father, saying she plans to sue him and other family members for their role in guardianship. Britney Spears has said she believes her father relishes the power he wields over his multi-millionaire daughter. She has repeatedly stated through lawyers that she does not want her father involved in her affairs.

Late Tuesday, Jamie Spears filed court documents indicating that in light of the allegations of abuse of his daughter by the guardianship, he wants the court to investigate his comments and determine what “corrective measures” may be needed.

“Mr. Spears is seeking directions and an order from the court to investigate the veracity of the allegations and allegations made by Ms. Spears during the status hearing on June 23, 2021,” according to the documents. “Given the nature of the allegations and allegations, it is essential that the court confirm whether Ms. Spears’ testimony was accurate or not in order to determine what corrective action, if any, should be taken.

“It is also imperative for the proper functioning of the guardianship proceedings before this tribunal that all parties have the opportunity to respond fully and fairly to the allegations and claims made against them, including by means of a hearing of the evidence. “

In her testimony last week, the 39-year-old singer lashed out at everyone involved in her guardianship, accusing them of abusive treatment, forcing her to perform against her will and forcing her to take medication that she did not want and to undergo intensive therapy sessions. .

She has called for an end to the guardianship, although her lawyers have yet to file any petitions with the court to do so.

The wave of activity in the case comes against the backdrop of a fan-orchestrated “FreeBritney” vocal movement calling for an end to the trusteeship in place since 2008, when the singer exhibited a series of bizarre behavioral breakdowns, including one in which she shaved her head.

Its supporters questioned the need for guardianship, which is typically used for people who are sick, elderly, or unable to otherwise manage their own affairs. Spears has produced a series of successful albums and has toured and performed in Las Vegas several times over the past 13 years.

Geraldine L. Melton