The financial management fund appointed to help oversee Britney Spears' estate has asked to be withdrawn from the role.
It's another development in the controversial conservatorship of the pop star, who described the situation as "abusive" in a testimony last week.
The Bessemer Trust had been appointed as co-conservator of her financial affairs along with her father Jamie Spears.
Watch: Financial firm wants out fo Britney Spears case
A request made via Spears' lawyer to have her father removed from his role was refused by a judge earlier this week.
In the wake of the testimony, Bessemer Trust Company of California has now filed court documents in Los Angeles and asked to be withdrawn from its role, citing "changed circumstances".
It said the testimony made it clear the singer did not consent to the conservatorship, a legal arrangement usually reserved for the very old and infirm.
The court filing states: "As a result of the Conservatee’s testimony at the June 23 hearing, however, Petitioner has become aware that the Conservatee objects to the continuance of her Conservatorship and desires to terminate the Conservatorship.
"Petitioner has heard the Conservatee and respects her wishes."
The trust asked the court to "approve its resignation on an expedited basis".
Bessemer was appointed to the role by the court in November, however, the latest legal filing revealed it has been awaiting further paperwork before it could act on behalf of Spears.
Watch: Judge denies removal of Britney Spears' father as conservator
That paperwork – described as “letters of conservatorship” in the filing – was only filed this week.
Bessemer's decision to withdraw means Jamie Spears remains his daughter's sole conservator. Her personal affairs are handle by care giver Jodi Montogomery.
The next court hearing in the conservatorship case is scheduled for 14 July.
The singer’s emotional 23-minute court testimony during the 23 June hearing made headlines around the world after she told the judge she had been drugged and forced to perform against her will.
The mother-of-two said she was required to use a contraceptive device and was barred from marrying boyfriend Sam Asghari.
With additional reporting by PA.