SEQUESTER HOLDINGS INC/NV
8-K, 1997-05-23
MANAGEMENT SERVICES
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<PAGE>   1
                       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): May 20, 1997 (May 16, 1997)


                       ----------------------------------


                        SEQUESTER HOLDINGS, INCORPORATED
             (Exact name of registrant as specified in its charter)


                       ----------------------------------

             NEVADA                      33-06827LA             95-4532103
  (State or other jurisdiction          (Commission           (I.R.S. Employer
of incorporation or organization)       File Number)        Identification No.)


                       ----------------------------------

                         2835 TOWNSGATE ROAD, SUITE 110
                       WESTLAKE VILLAGE, CALIFORNIA 91361
               (Address of principal executive offices) (Zip Code)


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                                 (805) 494-6687
                         (Registrant's telephone number,
                              including area code)












<PAGE>   2
                    INFORMATION TO BE INCLUDED IN THE REPORT



ITEM 6.           RESIGNATION OF REGISTRANT'S DIRECTORS.

         By letter dated May 16, 1997, Oleg Batratchenko resigned as a director
of the Company effective as of May 16, 1997. There were no disagreements between
the Company and Oleg Batratchenko on any matter relating to the Registrant's
operations, policies or practices.

ITEM 7.           FINANCIAL STATEMENTS AND EXHIBITS

EXHIBITS

EXHIBIT NUMBER             EXHIBIT
- -------------              -------
    17.1                   Letter on Director Resignation


<PAGE>   3
                                   SIGNATURES

         Pursuant to the requirement 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.


                                               SEQUESTER HOLDINGS, INCORPORATED



Date:  May 20, 1997                              By:    /s/ Wellington A. Ewen
                                                        ----------------------
                                                         Wellington A. Ewen
                                                         President


<PAGE>   4


                                  EXHIBIT INDEX

<TABLE>
<CAPTION>

Exhibit
Number   Exhibit                                                        Page
- ------   -------                                                        ----
<S>                                                                       <C>
  17.1   Letter on Director Resignation                                   6
</TABLE>





<PAGE>   1
                                  Exhibit 17.1

              Letter on Director Resignation from Oleg Batratchenko
- --------------
BERKSHIRE
INTERNATIONAL
FINANCE, INC.



                 551 Fifth Avenue Suite 605 o New York, NY 10017
                      Tel: 212-681-7007 o Fax: 212-681-7491
          E-Mail; [email protected] o Internet:HTTP://www.growth.com





To:               All Board Members and Management of SeQuester
From:             Oleg Batratchenko
Date:             May 16, 1997

Gentlemen,

Given my substantially increased workload as the Vice President of Research of
Berkshire International Finance, Inc., I will no longer be able to fulfill the
obligation of Director of SeQuester.

Please consider my resignation from SeQuester's board final and immediate.

Thank you.



/s/ Oleg Batratchenko


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