The Central Bank disputes the sales contract signed by the previous authorities with a group known as Playa Grande Holdings. Originally, there had been talk of the Kohler Corporation buying into the North Coast development, but sources indicate that Kohler has nothing to do with the group interested in the valuable property. The Central Bank announced that it aims to cancel the US$43-million sales contract completely and indicated that a foreign company had offered US$83 million for the same eight million square meter property that includes the famous Playa Grande Golf Course. A source within the Ministry of Finance told Listin Diario that two weeks ago the Central Bank’s management sent a communique to the company giving it 60 days to reopen talks regarding the contract. According to the source, in addition to the ridiculously low sales price, the Central Bank says the deal ignored certain commitments, particularly when it included property that had already been granted by the Monetary Board to the Banco Nacional de la Vivienda in the terms of the sale. The Playa Grande property has been on the market since 1997. The Central Bank announced the sale on 16 July, but did not disclose the identities of the company’s principals. The Listin Diario says that if the buyer does not accept the renegotiation of the contract, they will take the case to an international court to seek its rescindment.