PITTSBURGH - The promoter of this year’s canceled Three Rivers Regatta filed for bankruptcy Friday.
LionHeart Event Group filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the Western District of Pennsylvania.
Authorities said LionHeart owes $32,000 for event security, and the Allegheny County Sheriff's Office filed a lawsuit against the company, Channel 11 News reported in August.
CONFIRMED: The company hired to organize and run the Three Rivers Regatta has filed for bankruptcy, claiming in court documents to have $500,001-$1 million in liabilities. LionHeart Event Group is now being criminally investigated for its handling of the cancelled event pic.twitter.com/FayIKYASFw— Aaron Martin (@WPXIAaronMartin) September 16, 2019
LionHeart had been hired for several years to handle event management of the regatta, officials said.
The company’s responsibilities included purchasing insurance, securing permits, acquiring sponsors, collecting sponsorship money, contracting with food vendors, working with the race boat organizations and working with the city and others to provide security, officials said.
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However, officials learned in July that insurance for the event had not been purchased. The regatta was then canceled days before it was scheduled to start.
According to LionHeart’s bankruptcy petition, the company has between $500,001 and $1 million in estimated liabilities, but less than $50,000 in assets.
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