The company behind this year’s canceled Pittsburgh Three Rivers Regatta owes sponsors and service providers nearly $750,000 and is moving to have that debt canceled through bankruptcy proceedings, according to court documents.

LionHeart Event Group LLC. has just $2,265 in total assets and owes a total of $744,526, according to claims filed in federal bankruptcy court.

The two largest creditors are Downtown-based EQT Corp., which is owed $270,000 in 2019 sponsorship money, and Starfire Corp. of Carrolltown, which is owed $126,451 for fireworks in 2018 and 2019, according to the filings. Messages left at both companies were not returned.

EQT was the title sponsor for the 2019 regatta. The regatta board canceled the weekend event on July 30, three days before it was scheduled to start, saying it was misled by LionHeart about payments to vendors, and insurance, among other things.

Company President Derek Weber in September filed for Chapter 7 bankruptcy, which provides for liquidation of the business. Calls to Brian C. Thompson, Weber’s bankruptcy attorney, were not returned. Weber, who is facing a criminal investigation, could not be reached.

LionHeart also owes 42 other entities, including Pittsburgh and the Allegheny County Sheriff’s Office, for sponsorships and services ranging from police protection to equipment rentals.

The sheriff’s office has sued LionHeart seeking repayment of $32,978 for security services provided during the 2018 regatta and EQT Flashes of Freedom Celebrate America fireworks display on July 4. The two sides were scheduled for arbitration Tuesday in the Allegheny County Court of Common Pleas, but the case was postponed because the bankruptcy court last week issued a stay prohibiting all collection efforts, according to the sheriff’s office solicitor.

The court last week notified all creditors that LionHeart has asked for the debt to be discharged.

“They’re essentially saying there’s no money in the estate, and they are not even having the creditors at this time submit a proof of claim,” said Lisa Michel, the sheriff’s office solicitor. “They’ve essentially told us to stand down.”

Creditors who object to debt cancellation have until Jan. 24 to file a complaint with the court. The court has scheduled a meeting for Nov. 25 where creditors can question Weber under oath.

Michel said she intends to attend the meeting.

“If through the bankruptcy process it’s revealed there are more assets, we’ll see what happens there,” she said.

LionHeart has no cash, and its only assets include such things as a “pile of used 2x4 lumber” worth $50, T-shirts worth $500 and used children’s games worth $600, according to the bankruptcy filings.

Pittsburgh Public Safety Director Wendell Hissrich said a criminal investigation into LionHeart’s activities that began in July is continuing. The city previously said LionHeart owns $28,000 for police services during the regatta, but its claim against the company is for $19,973, according to the bankruptcy filings.

Tim McNulty, spokesman for Mayor Bill Peduto, declined comment, citing the criminal investigation.

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