Britney Spears’ lawyer just went OFF on members of her conservatorship team, including her father, for the amount of money she spends on their services.
According to legal documents, obtained by The Blast, Brintey Spears’ team is BLASTING advisors for the conservatorship, claiming she can’t continue to afford their exorbitant fees.
In the filing, Britney’s team is calling out her father claiming, “After denying for months that any structural change to this conservatorship was necessary, an hour before the last hearing James suddenly reversed direction and conceded that a co-conservator of the estate is needed after all. However, rather than work collaboratively with Britney to find the best candidate, James chose to work in direct opposition to her clear statement that she “strongly prefers to have a qualified corporate fiduciary appointed to serve in this role.”
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In the filing, Britney’s lawyer challenges Jamie’s choice for the new co-conservator saying, “In fact, Mr. Wallets’s sudden departure after 11 years was “voluntary” only in the sense that he wasn’t removed. Rather, it was negotiated by court-appointed counsel for Britney and supported by consideration to Mr. Wallet in the form of a $100,000.00 “golden parachute.”
At this point, the pop star’s lawyer says Britney is no longer performing and does not desire to do so at this time. He points out that the co-conservator was paid $426,000 a year for his services.
So, he says, adding “any individual co-conservator to this case, much less Mr. Wallet represents a very poor value that Britney cannot afford.
Next, Britney’s legal team pointed out that Jaime Spears “modified” the amount manager Lou Taylor’s company was paid by the conservatorship.
“In considering the economic impact of Mr. Wallets’s return on Britney’s estate, it should be noted that on December 20, 21 2019, after Mr. Wallet had departed, James modified the compensation of TRI STAR SPORTS AND ENTERTAINMENT GROUP, the business manager, to provide for a minimum annual fee of $500,000.00,” the filing says.
He adds, “This amount represents more than DOUBLE the amount that Tri-Star was previously receiving.”
Britney’s team included an email (above) in the filing that lays out the compensation plan.
Britney claims her father’s position is that Britney’s decision not to perform will require him to undertake drastic changes to her
But, the filing HAMMERS him by saying, “Apparently this frugality does not extend to the fees James pays from the conservatorship to the financial professionals with whom he surrounds himself.”
In the end, Brintey is asking the court to appoint an investment bank as the conservator of her estate and claims she has little or no connection to her father’s choice.
“Apart from the fact that Mr. Wallet has been extremely expensive in the past, based on what occurred over the 11 years he served as her co-conservator there is no reason to believe that Mr. Wallet will be able to work with Britney to explain and implement any difficult budgetary choices that must be made.”
At this point, a judge in Britney’s conservatorship will make the ultimate decision.