CBA v Coppola [2013] NSWSC 830

Borrower applied for stay of writ of eviction on the basis that she was seeking to refinance the loan. The judge stated that there were factors against a stay, in particular the lateness of the application (which was so late that the Sheriff had already started execution at the time the Judge began to hear the case). Additionally, the default history of the borrower was poor. However, the Judge confirmed that refinancing is one of the reasons stays are permitted and evidence had been given that finance had been approved and that two individuals had agreed to lend additional funds required to cover remaining costs.

In those circumstances the Judge agreed it was appropriate to give the borrower a further opportunity to complete refinance negotiations, but it would be a limited opportunity and it would be on the condition that the borrower pay an amount to the bank to bring required repayments up to date. The stay was only granted for a short period on that basis.

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