CBC News is reporting that CBGB, the name of the famous and now-defunct New York venue which fostered the early punk rock community, is up for sale. Lawyers for the estate of late CBGB founder Hillel Kristal are looking for buyers who would be "best for the brand and Hilley's legacy."

After the club had closed in 2006 the rights to the name were purchased by a pair of marketing executives who created a company dubbed CBGB Holdings. That firm filed for bankruptcy in June without hang fully paid the estate. A bankruptcy judge ruled last Wednesday that Kristal's estate were the rightful owner to the club's assets.