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James Spears is no longer Britney Spears’ sole conservator. Judge Penny appointed financial institution Bessemer Trust as co-conservator.

Good news for Britney Spears as her father lost sole control over the singer’s conservatorship.

After having denied Britney’s request last yer to remove her father and to place a financial institution as the sole conservator over her estate, Los Angeles Superior Court Judge Brenda Penny appointed Bessemer Trust as a co-conservator along with James Spears.

Objections from Vivian Thoreen – James Spears’ attorney – were rejected and therefore from now on, Britney’s father will have to consult with Bessemer Trust before taking any decision.

Both James Spears and Bessemer Trust are expected to work together on a budget and investment proposal for Britney Spears’ estate following Thursday’s hearing.

Another hearing on the conservatorship is scheduled to take place next month.