Bessemer Trust asks Los Angeles court for withdrawal on Britany Spears case

After the testimony of Britany Spears last month, the Bessemer Trust, which is a wealth management firm, has decided to withdraw from the case and pleaded the same in the Los Angeles court on Thursday. 

Apart from the pop star’s father, Jamie Spears, the firm was among the co-conservator of Britany Spear’ estate. It decided to exclude itself from the case after Spears stressed that the arrangement had done more bad than good and strongly opposed the arrangement. 

The singer had made many revelations in front of the judge last month and claimed that activities she was subjected to since 2008 were highly abusive. Another shocking fact she revealed was she had been forced to take drug lithium against her will and even her love life is being controlled by the conservators. 

It was only last year when the Bessemer Trust was appointed as a co-conservator by Judge Brenda Penny for the ‘Stronger’ singer. They were responsible for managing financial assets worth  $60 million in coordination with her father, who too was blamed for controlling the singer’s life. 

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The financial firm clarified that it had not taken any fees regarding the handling of the Spears’ assets and it didn’t even receive any fees with respect to the service it was deemed to give. The company waited for the court to authorise all the documents before processing the assets. 

On Thursday, ahead of the approvals, the Trust asked the judge for resignation from the case citing ‘changed circumstances’. The trust also stressed that the claims of the Conservatee have harmed her interest more than benefiting her. 

Last month was the first time that the pop star spoke against the conservators saying that she was feeling a lot of pressure and felt that she was constantly under someone’s watch but Spears had begun the legal processes to remove her father from handling her assets in 2020. However, the judge had rejected the request. 

Jamie Spears was selected to be a conservator for his daughter’s business-related affairs after she was hospitalized for psychiatric treatment.