Delek Global Real Estate has instructed lawyers following a court action filed against the firm and its partners after they abandoned a SFr3.4bn (£1.5bn) property acquisition in October. Financial Times, The Times

The London-listed property investor said yesterday it had received notice that Switzerland’s Jelmoli had submitted an application for arbitration against the DGRE consortium, which said worsening credit market conditions had made it impossible to complete the deal on the original terms.

DGRE shares closed 3% up at 106.5 yesterday.