A potential buyer of the name Tavern on the Green has agreed to offer $1.3 million at an auction in Manhattan bankruptcy court.

Tavern International will be the opening bidder at the sale, according to Streambank LLC, the firm hired to find a buyer.

Tavern on the Green filed for bankruptcy in September 2009 after losing its lease to operate the namesake restaurant in New York’s Central Park.

The company lost a fight with New York City for rights to the famed trademark.