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): March 18, 2003
ALPHA HOSPITALITY CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 1-12522 13-3714474
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
707 Skokie Boulevard, Suite 600, Northbrook, Illinois 60062
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (847) 418-3804
ITEM 5. OTHER EVENTS
On March 14, 2002, attorneys for the Plaintiffs in the case of
Catskill Development, LLC ("Catskill"), Mohawk Management, LLC
and Monticello Raceway Development LLC v. Park Place
Entertainment Corporation (NYSE:PPE) filed a motion pursuant to
Rule 60 (B) of the Federal Rules of Civil Procedure. The motion
requests the District Court to vacate the judgment issued in the
case on August 26th, 2002 on the ground that new evidence has
been found that has a material bearing on important issues
affecting the judgment. The motion indicates that audio tapes of
certain conversations concerning the transaction at issue in the
case were made available to the plaintiffs by Presidents, R.C.,
the plaintiff in another case against the same defendant, Park
Place Entertainment and that the tapes provide evidence which
raise material issues regarding important issues in the case and
the positions taken by the defendant. The motion requests that
the judgment be vacated and that the Plaintiffs be permitted to
continue discovery and file amended pleadings to reflect the
evidence contained in the case.
Although the Company has been advised by the attorneys handling
the case that the new evidence relates to substantial important
issues, it does not relate to all of the issues or charges in the
Plaintiff's original complaint or all of the issues covered by
the pending appeal in the case by the Plaintiffs. Accordingly, no
assurance can be given that the motion will be granted or that,
if granted, it will provide relief sufficient to permit the
Plaintiffs to proceed with a trial or provide evidence that will
be available for purposes of the record in the appeal. The
Plaintiffs in the appeal are affiliated with the Company
principally through its relation with Catskill. Management has
continued to work with representatives of Catskill with respect
to the proposed consolidation of the two entities and does not
expect these circumstances to result in a substantial change in
the terms of the proposed consolidation, although they may affect
the terms of the proposed litigation trust to be established
under the previously announced letter of intent.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
99.1 Press Release dated March 18, 2003
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 thereunto duly authorized.
Dated: March 18, 2003 ALPHA HOSPITALITY CORPORATION
(Registrant)
By: /s/ Scott A. Kaniewski
Scott A. Kaniewski
Chief Financial Officer
EXHIBIT 99.1
ALPHA HOSPITALITY CORPORATION
707 Skokie Boulevard
Suite 600
Northbrook, IL 60062
Contact:
Scott Kaniewski FOR IMMEDIATE RELEASE
(847) 418-3804
ALPHA'S PARTNER FILES MOTION TO VACATE
Catskill Development, LLC Files Motion to Vacate Summary Judgment
Ruling for Park Place Entertainment
Northbrook, Illinois - March 18, 2003 - Alpha Hospitality
Corporation (NASDAQ and BSE: ALHY) announced today that on March
14, 2002, attorneys for the Plaintiffs in the case of Catskill
Development, LLC ("Catskill"), Mohawk Management, L.L.C. and
Monticello Raceway Development LLC v. Park Place Entertainment
Corporation (NYSE:PPE) filed a motion pursuant to Rule 60 (B) of
the Federal Rules of Civil Procedure. The motion requests the
District Court to vacate the judgment issued in the case on
August 26th, 2002 on the ground that new evidence has been found
that has a material bearing on important issues affecting the
judgment. The motion indicates that audio tapes of certain
conversations concerning the transaction at issue in the case
were made available to the plaintiffs by Presidents, R.C., the
plaintiff in another case against the same defendant, Park Place
Entertainment and that the tapes provide evidence which raise
material issues regarding important issues in the case and the
positions taken by the defendant. The motion requests that the
judgment be vacated and that the Plaintiffs be permitted to
continue discovery and file amended pleadings to reflect the
evidence contained in the case.
Although the Company has been advised by the attorneys handling
the case that the new evidence relates to substantial important
issues, it does not relate to all of the issues or charges in the
Plaintiff's original complaint or all of the issues covered by
the pending appeal in the case by the Plaintiffs. Accordingly, no
assurance can be given that the motion will be granted or that,
if granted, it will provide relief sufficient to permit the
Plaintiffs to proceed with a trial or provide evidence that will
be available for purposes of the record in the appeal. The
Plaintiffs in the appeal are affiliated with the Company
principally through its relation with Catskill. Management has
continued to work with representatives of Catskill with respect
to the proposed consolidation of the two entities and does not
expect these circumstances to result in a substantial change in
the terms of the proposed consolidation, although they may affect
the terms of the proposed litigation trust to be established
under the previously announced letter of intent.
To the extent the content of this press release includes forward-
looking statements, they involve risks and uncertainties that are
described from time to time in Alpha's reports filed with the
Securities and Exchange Commission. Alpha 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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