Bessemer Trust’s request to withdraw as co-conservator of Britney Spears‘ estate has been approved by a judge.
Judge Brenda Penny of the Los Angeles Superior Court ruled that the request would be ‘immediately effective’ just one day after the company filed to be removed as a co-conservator of the pop-star’s estate on an ‘expedited basis’, People reported.
The $100 billion hedge fund had signed on as co-conservator of Britney’s estate in November, which has been handled by her father Jamie Spears since 2008.
The private management company sought 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.’
It came after the star’s bombshell June 23rd hearing where she pleded with Judge Penny in a 25 minute speech to remove her father, and the current team from any involvement in her affairs.
Jamie Spears, 68, remains the sole conservator of his daughter’s estate after Penny denied the Lucky singer’s request to remove her father from the role.
Judge Brenda Penny, right, ruled that Bessemer Trust’s request to withdraw as co-conservator of Britney Spears’ estate, left, would be ‘immediately effective’
Jamie Spears, 68, pictured, remains the sole conservator of his daughter’s estate after Penny denied the Lucky singer’s request to remove her father from the role
Spears, 39, appears to be feeling optimistic about the status of her conservatorship after returning from a refreshing vacation in Maui, Hawaii.
‘[She] is hopeful that there will be huge changes’ in her conservatorship, a source told People on Friday.
According to the source, Spears was feeling refreshed after having a ‘wonderful time’ in Maui with her boyfriend Sam Asghari.
They added that the island location was ‘their happy place’ and a popular spot for them to take vacations.
There also wasn’t any question about Asghari’s commitment to Spears, as he’s ‘ready for marriage and kids,’ according to the insider.
The hedge fund wrote in a court filing that it was request to turn down the position because of Britney’s denunciation of the conservatorship
The performer’s mood also seems to have been boosted by the outpouring of support she received as speaking out in a furious court statement opposing her ongoing conservatorship.
‘Britney is very grateful for all the attention that her court testimony received. She is hopeful that there will be huge changes,’ they said.
Spears’ statement appears to have led to Bessemer Trust, which was appointed to lead her conservatorship with her father Jamie, to withdraw from the arrangement.
The hedge fund wrote in a court filing that it was request to turn down the position because of Britney’s denunciation of 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,’ the document read. ‘Petitioner has heard the Conservatee and respects her wishes.’
Spears’ father Jamie has been her co-conservator since 2008, when the singer suffered a well-publicized meltdown.
Although Spears stated that she wanted her father’s control over her estate and personal life to be ended immediately, the court won’t rule on that until her lawyer Sam Ingham files an official request to end the conservatorship.
‘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.
In addition to considering Bessemer’s request to withdraw, Judge Penny will also consider a request from Britney’s father Jamie to investigate allegations his daughter made about her treatment in her statement.
Jamie Spears will also file an accounting for the conservatorship, which lists the finances of the Toxic singer’s estate and its expenses.
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