Financial Institution Bows Out of Britney Spears' Conservatorship Amid Public Scrutiny

The Bessemer Trust is backing out.

The financial institution newly put in place as co-conservator alongside father Jamie Spears of Britney Spears is now bowing out of her conservatorship amid controversy, TMZ reported Thursday (July 1).

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The trust “decided it does not want to get involved because it’s become gun-shy over all the controversy surrounding the conservatorship,” via the report.

Bessemer Trust feels the situation has become a “hornet’s nest,” according to the source, and is therefore backing out. They also reportedly do not want to deal with her father.

“It has issues, we’re told, with Britney‘s lawyer, Sam Ingham, along with all of the public outcry over her case…especially after Britney‘s courtroom cry for help last week,” TMZ added.

As a result, Jamie will remain the sole conservator of her estate.

One day before, a judge denied a request from 2020 to suspend Jamie from estate conservatorship, but approved the Bessemer Trust to be made co-conservator, per her counsel’s request. As of now, that’s not happening anymore.

Earlier in the week, there were reports that Britney‘s lawyer is preparing to file a petition to terminate the conservatorship, but it has not yet been filed.