National Australia Bank v Priestley [2012] NSWSC 1611

The farm had been in the family for five generations. Following breach of an agreement resulting from a farm debt mediation, the bank obtained default judgment for possession.

The borrowers then sought to have the judgment set aside and to file an amended defence on the grounds there had been a breach of code of banking practice. They said this was because the bank had failed to advance further moneys to assist them to recover from the drought.

The court found no arguable defence and refused to grant a stay.

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