Pop star Britney Spears had several setbacks last week following some explosive testimony regarding her conservatorship. The latest setback includes wealth management company Bessemer Trust petitioning the courts to resign from being the co-conservator of Britney Spears’ $60 million estate. Just one day before this announcement, the courts shot down a request to have James Spears, Britney’s father, removed as her sole conservator.

Bessemer Trusts’ request to be removed from the conservatorship comes just one day after Los Angeles Superior Court Judge Brenda Perry ordered the trust to be a co-conservator, granting a request they made in November.

Bessemer Trust shared in their petition to resign as co-conservator that the circumstances regarding the singer and her conservatorship have changed. The petition explains, "The Conservatee claimed irreparable harm to her interests in her testimony and, more specifically, the Conservatee's objection to the continuation of the voluntary Conservatorship and her desire to terminate the Conservatorship." Bessemer Trust went on to add, "Petitioner has heard the Conservatee and respects her wishes."

Spears Ask Court To Have Father Removed

The trust company’s mention of “changed circumstances” appears to be in reference to scathing remarks made by the singer which were directed toward her conservatorship and her father. During last week’s hearing, Spears shared a prepared statement that went on for over 20 minutes.

Spear’s statements were the first she has made to the court regarding her feelings about the conservatorship. The singer did not mince words when it came to her father and his handling of the conservatorship. Her emotional statement described her father as a “bully” who exploited her through the power the conservatorship gave him. Spears explained,

“I cried on the phone for an hour and he loved every minute of it. The control he had over someone as powerful as me as he loved the control to hurt his own daughter, 100,000%. He loved it.” She adds, “my dad and anyone involved in this conservatorship and my management — who played a huge role in punishing me when I said, "No, ma'am" — they should be in jail.”

Although Wednesday’s hearing was not intended to discuss the removal of the elder Spears from the conservatorship, Spears did share that she did not know she could ask the courts to remove him. She explained, “Ma'am, I didn't know I could petition the conservatorship to end it. I'm sorry for my ignorance, but I honestly didn't know that.” The senior Spears has been in charge of his daughter’s estate through the conservatorship since 2008 after the singer battled personal issues in the public eye.

The court documents filed to deny the request to have the elder Spears removed explains, “The conservator’s request to suspend James P. Spears immediately upon the appointment of Bessemer Trust Company of California as sole conservator of estate is denied without prejudice.”

Spears’ court-appointed lawyer Samuel Ingham III filed the request in August of last year. The court’s decision to deny the request was not a result of Spears’ testimony in the hearing last Wednesday.