Egyptian property developer Palm Hills said on Wednesday it planned to appeal against a court verdict scrapping a sale of state land to the company.
The verdict on Tuesday piled more pressure on the company, which has seen its share price tumble almost 70 percent this year as it struggled with mounting debts and liabilities.
Analysts say tight cashflow may make it hard for the company to make any additional payment for the land on Cairo's outskirts if it is ordered to do so by the court.
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