The bank sought summary judgment against a husband and wife, who both guaranteed their company’s borrowings.
The court gave summary judgment against the husband but not the wife. The court said:
The fundamental weakness of her Wife’s Equity defence rests in her being a shareholder with her husband in the borrower company. But I consider that case just passes the threshold where the facts should be explored at a trial.
However the court imposed a condition permitting the wife to run a weak defence, namely the payment into court of $200,000, equating to the four months’ interest until trial.