It’s been five years since the inception of Britney’s controversial conservatorship, and with time comes change. Britney’s lawyers appeared in court Friday morning to file an emergency motion with her conservatorship judge, Reva Goetz, to grant them power to change her investment strategy after bonds her money was locked into five years ago could now financially hurt her, reports Eonline.com.
“We modified so we could stay ahead of shifts in the economy, as they are changing now more rapidly than they were over the last three years,” conservatorship attorney Andrew Wallet tells E! News.
Geraldine Wyle, another attorney for the conservatorship, says it’s important that the judge allow them to make these changes now and not three months down the road because of the changing economic climate.
Their request was granted.
“We needed to get some freedom to open it up,” she explains about the decision to file to an ex parte motion, which expedites the process to have the matter heard immediately, in lieu of a standard petition, which could take months before moving ahead, says E!.
Wallet says Britney’s assets had been “stuck in bonds by court order, and bonds are flat.” Judge Goetz’s ruling now gives her investment advisors “more flexibility to respond to the changing market conditions.”
Wyle is confident these upcoming asset changes will prove beneficial for the “Scream & Shout” singer.
“We have done well,” Wyle says, despite “a very difficult time.” However, he adds, “What was good in 2010, 2009 is no longer a prudent way to invest her assets.”
Wallet agrees. “We have been very diligent on how we have been investing her assets and have been weathering the bad economy very well and we want to continue to do so,” he says. “[The] market is changing, and we need to stay abreast of it.”
No word whether the conservatorship will be lifted any time soon.