Control: Britney Spears’ estate is now back in the hands of father Jamie, 68
Bessemer Trust, the proposed new co-conservator of Britney Spears‘ $60m estate, is already seeking to resign a day after their appointment became official, DailyMail.com can confirm.
The private management company is seeking an emergency hearing on Friday, to resign immediately and distance themselves from any involvement in Spears’ financial matters.
According to a court document filed Thursday, obtained by DailyMail.com, the company said it was requesting to withdraw ‘due to changed circumstances.’
This would effectively leave her father Jamie Spears, 68, as the sole conservator of Spears’ estate once again.
Eight months after approving Bessemer Trust as the co-conservator, Judge Penny finally signed the order this week.
However, days later, Bessemer Trust – that manages more than $100 billion in assets – made an ex parte application, an emergency hearing to officially withdraw.
They cite a change in circumstances, referencing the bombshell June 23rd hearing where Spears pled with Judge penny in a 25 minute speech to remove her father, and the current team from any involvement in her affairs.
Battle: Bessemer Trust, the proposed new co-conservator of Britney Spears $60m estate, is already seeking to resign a day after their appointment became official
While Judge Penny could not rule on this at the June 23rd hearing, and the next set of hearings are just two weeks away on July 14th; Bessemer has moved the court for the immediate order to stay as far away from this as possible.
A source told TMZ Thursday that the company views the circumstances surrounding Spears’ conservatorship have become a ‘hornet’s nest.’
The court filing states: ‘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.’
Withdrawn: According to a court document filed Thursday, obtained by DailyMail.com, the company said it was requesting to withdraw ‘due to changed circumstances’
Wanting out: The private management company is seeking an emergency hearing on Friday, to resign immediately and distance themselves from any involvement in Spears’ financial matters
Controversy: Bessemer Trust – that manages more than $100 billion in assets – made an ex parte application, an emergency hearing to officially withdraw
Staying away from it: Bessemer assert that the court should accept their resignation in these legal documents
Docs: The petition states that there is ‘still a currently acting conservator of the estate’ meaning Jamie Spears
Spears’ father Jamie has been her co-conservator since 2008, when the singer suffered a well-publicized meltdown.
The latest news comes after the judge overseeing Spears’ conservatorship denied her request to remove her father as conservatorship on Wednesday.
Judge Brenda Penny, presiding over the case before Los Angeles Superior Court, on Wednesday signed into effect a new ruling, which continues to give the singer’s father Jamie Spears’ control over her life.
In November 2020, Britney’s lawyer filed a petition on her behalf asking the court to remove Jamie as the conservator, and let the financial company, Bessemer Trust, take over.
The judge only just ruled on that this week, denying the motion to remove Jamie but confirming Bessemer as the main authority.
In charge: Spears’ father Jamie has been her co-conservator since 2008, when the singer suffered a well-publicized meltdown (pictured 2012)
It’s unclear why she didn’t remove Jamie or why she didn’t terminate the conservatorship all together, given Britney’s explosive remarks in court last week.
Instead, Judge Penny asked Britney’s lawyer – Sam Ingham – to file a motion to terminate the conservatorship and said that once he had, she’d make room in the diary for it.
But Ingham is yet to file such a motion to get rid of the conservatorship. On Thursday afternoon, he did not respond to inquiries about why he was yet to do it.
The courthouse – which is being inundated with calls from Britney’s fans around the world in addition to journalists seeking responses to their questions – also didn’t answer.
Now, sources say Britney is pushing Ingham to file the paperwork and end the sordid chapter.
Judge Brenda Penny, left, signed a document preserving Jamie Spears’ control over his daughter Britney’s estate. Her lawyer Samuel Ingham, right, is now set to file a new petition
‘Britney has spoken to Sam multiple times since last week and she has asked him point-blank, once again, to file the paperwork to end this,’ a source told CNN.
Further details on why she made that decision have yet to be shared but a new petition calling for Spears’ freedom is expected to be filed soon.
The 39-year-old singer made headlines worldwide on June 23 with her request to resume control of her finances and life after 13 years under a conservatorship, which handed control of Spears’ financial affairs and daily life to her dad.
Her court-appointed lawyer, Sam Ingham, was expected to file a petition to remove Spears’ conservatorship and Judge Penny said that she would make space in her diary for the hearing at which it could be lifted.
Protesters gathered in Los Angeles ahead of the eagerly-anticipated hearing
In the documents, Britney’s request to remove her father was denied.
Spears’ request to suspend her father, James P. Spears, immediately upon the appointment of a financial institution as sole conservator of estate ‘is denied without prejudice,’ the Los Angeles Superior Court ruled.
Ingham is expected to file a new petition, requesting that the conservatorship be ended. It was unclear why he is yet to do so.
Spears responded to the news by posting two videos in which she appeared to be upbeat despite the setback.
A court sketch from inside the Los Angeles County Courthouse, with Judge Brenda Penny presiding. The June 23 hearing caused shockwaves around the world