Friday, July 2nd, 2021
Public pressure too great
Britney no longer wants a wealth manager
A few days ago, Britney Spears suffered a setback in court with her attempt to enforce the Bessemer Trust as her sole asset manager. Now, however, the financial company wants to pull out of the case anyway.
The public pressure is now too great for a large company: Bessemer Trust, a renowned financial services provider from New York City, no longer wants to have anything to do with Britney Spears’ asset management. As reported by the Reuters news agency, the company asked a court in Los Angeles on Thursday to withdraw from the Spears case.
The decision on this step was made after Spears testified in court that she was personally against the agreement and does not want it to be. For the singer, the guardianship would cause irreparable damage. Specifically, she applied to the court for her father’s guardianship to be lifted and for the Bessemer Trust to act as a trustee. However, the court refused.
However, this current decision has nothing to do with recent developments in the guardianship dispute. Rather, it refers to a request that the singer’s lawyers had already put forward last year. The aim was to oust James Spears from his role as trustee of his daughter’s multimillion-dollar fortune and instead to entrust the Bessemer Trust exclusively with guardianship.
Under guardianship since 2008
So far, however, the company has not done anything with the approximately 60 million dollar fortune, as they are still waiting for final court documents, according to Bessemer Trust. Fees for any services have not yet been paid. Now, however, they have called the court again about “changed circumstances” and asked to be allowed to withdraw from the case.
Britney Spears’ father was appointed as her guardian by a court in 2008 following mental breakdowns. Since then he has made decisions about her life and her finances. Since 2014, the singer and mother of two has been trying to break free from her father’s guardianship.
In her testimony in court a few days ago, Spears stated that she found the original agreement of 2008 “abusive”. She was traumatized and forced against her will to take the drug lithium. She was also forbidden to marry and to stop using contraceptives in order to become pregnant.
She receives support from many fans who draw attention to the case under the hashtag “#FreeBritney”. Celebrities such as recently ex-boyfriend Justin Timberlake and Mariah Carey also support her publicly.