A financial firm appointed to be co-conservator of Britney Spears's estate has asked a judge that it be allowed to withdraw from the arrangement.

The Bessemer Trust officially became jointly responsible for Britney's affairs, along with her father Jamie Spears, on Wednesday but just 24 hours later has filed a petition to be removed.

Last week Britney gave damning testimony in court blasting her father and the conservatorship, which has been in place for 13 years, describing it as "abusive" and asking for it to be dissolved.

The 39-year-old also alleged that she had been drugged, forced to take part in stage shows against her wishes and been told that she could not have children with her long-term partner.

Britney's lawyer has yet to request that the conservatorship be ended, meaning that it remains in place, and on Wednesday a judge ruled that Jamie would remain in joint control alongside newcomers Bessemer Trust.

In papers filed on Thursday, however, Bessemer said that in the light of Britney's testimony it no longer wants any part of the saga and only agreed to take on the role because at the time Britney appeared to be on board with its involvement.

The upshot of the news is that Jamie will most likely remain as the sole conservator of Britney's estate for the time being.