(GNB Desk): Jamie Spears, father of Britney Spears has suffered a significant loss in the ongoing court battle surrounding the singer’s conservatorship.
On Thursday, February 11, a judge ruled that Jamie Spears will not have the right to delegate investment powers for the multi-million-dollar estate, after he was criticised as part of the #FreeBritney movement.
The latest court ruling comes after the pop singer Britney Spears filed a petition with Los Angeles Superior Court to remove Jamie as the sole conservator of her estate.
Britney Spears filed a petition with the court last year to remove her father and to place a financial institution as the sole conservator over her estate. Her attorney, Samuel D. Ingham III, argued last year that the singer was afraid of James “Jamie” Spears and would rather a professional financial institution take over her estate.
While Britney’s proposal was ultimately turned down, financial institution the Bessemer Trust was appointed as co-conservator and corporate fiduciary in November 2020.
At yesterday’s hearing, Jamie lost his bid to retain the power to control investment powers for the estate as part of the co-conservatorship.
“The rulings show the court’s confidence in our client Jamie Spears and Bessemer Trust to manage the conservatorship of Ms. Spears estate together,” and said Jamie Spears “looks forward to working with Bessemer … in the best interests of his daughter,” Jamie Spears’ attorney, Vivian Lee Thoreen said to the Associated Press after the hearing.
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