National Australia Bank v Voukidis [2014] NSWSC 711

The bank was granted possession and the wife and children sought a stay on the basis that the debt would be refinanced, to enable them to continue in possession. However the complication was that the property was also the subject of a freezing order granted by the Victorian Supreme Court in relation to separate proceedings brought against the husband for misappropriating funds.

The court found no realistic prospect of refinance given it depended almost entirely upon whether the Victorian Supreme Court would release the property from the freezing order and noted that the delay was costing the bank $1300 per day in interest.

The court refused the stay.

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