<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 14, 1995
--------------------------------
Westminster Capital, Inc.
(Formerly FarWest Financial Corporation)
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
Delaware 1-4923 95-2157201
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer identification no.)
of incorporation) file number)
9665 Wilshire Boulevard, Suite M-10, Beverly Hills, California 90212
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310)278-1930
-----------------------------
<PAGE>
ITEM 5. OTHER EVENTS
Westminster Capital, Inc. (WI) announced on February 15, 1995 that its Board of
Directors had approved a Settlement Agreement and Release by and between
Resolution Trust Corporation ("RTC") and Westminster Capital, Inc. (the
"Company") and three of its present and former directors ("Directors"). The
Settlement Agreement and Release entered into as of February 14, 1995, provides
for payment $4 Million by the Company to the RTC, requires the RTC to cooperate
with the Company in connection with pending proceedings to recover tax payments
made by the Company to the State of California, and releases all claims among
the parties. The Settlement Agreement which specifically acknowledges that the
Company and Directors have consistently denied any liability to the RTC was
entered into for purposes of compromising the claims and avoiding the cost and
inconvenience of litigation. In connection with the settlement, the Company
issued a press release in the form attached as an Exhibit hereto and
incorporated herein by reference.
Item 7. Financial Statements, Proforma Financial Information and Exhibits
(c) Exhibits
Exhibit 99.1 - Press Release dated February 15, 1995
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Westminster Capital, Inc.
Date: 2-21-95 /s/ William Belzberg
----------------------------- -----------------------------------
William Belzberg
Chairman of the Board
3
<PAGE>
Exhibit 99.1
PRESS RELEASE
Beverly Hills, California February 15, 1995
Westminster Capital, Inc. ("WI") announced today that its Board of Directors had
approved a Settlement Agreement and Release by and between Resolution Trust
Corporation ("RTC") and Westminster Capital, Inc. (the "Company") and three of
its present and former directors ("Directors"). The Settlement Agreement and
Release entered into as of February 14, 1995, provides for payment of $4 Million
by the Company to the RTC, requires the RTC to cooperate with the Company in
connection with the pending proceedings to recover tax payments made by the
Company to the State of California, and releases all claims among the parties.
The Settlement Agreement which specifically acknowledges that the Company and
Directors have consistently denied any liability to the RTC was entered into for
purposes of compromising the claims and avoiding the cost and inconvenience of
litigation.
Contact: Philip J. Gitzinger
Executive Vice President &
Chief Financial Officer
