Alpha Monticello Files for Arbitration.NEW YORK--(BUSINESS WIRE)--Dec. 31, 1998--Alpha Hospitality Corp. (NASDAQ:ALHYC; BSE:ALH) announced today that its wholly-owned subsidiary, Alpha Monticello Monticello (mŏn'tĭsĕl`ō, –chĕl`ō) [Ital.,=little mountain], estate, 640 acres (259 hectares), central Va., near Charlottesville; home of Thomas Jefferson for 56 years. The mansion, which he designed, was begun in 1770 on property inherited from his father. Inc., has filed a demand for arbitration seeking clarification of certain matters regarding the respective rights and obligations of the members of Mohawk Management LLC, an entity jointly formed by Alpha Monticello Inc. and Catskill Catskill (kăt`skĭl), village (1990 pop. 4,690), seat of Greene co., SE N.Y., on the Hudson River; settled 17th cent. by Dutch, inc. 1806. Connected with Hudson, N.Y., by the Rip Van Winkle Bridge (completed 1935), it is a gateway to resorts in the Catskill Mts. The Catskill Game Farm is nearby. Development LLC. The arbitration will take place before the American Arbitration Association between Alpha Monticello Inc. and Catskill Development LLC. Mohawk Management LLC has contracted to manage a proposed gaming facility in Monticello, N.Y., for the St. Regis Mohawk Tribe. To the extent of the content of this press release includes forward-looking statements, they involve risks and uncertainties that are described from time to time in the company's reports filed with the Securities and Exchange Commission. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. |
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