Donnelly v ANZ [2014] NSWCA 43

The wife appealed against a decision refusing a stay of possession. The case concerned a foreign currency loan. The Court of Appeal noted it could review a decision refusing a stay when:

  1. there is a dispute as to whether the power of sale has arisen; or
  2. the validity of the mortgage is in issue;
  3. there is evidence that the mortgage can be redeemed in a short period of time by a proposal that seems reasonable on its face.

A stay was refused because:

  1. there was not a strong case for appeal;
  2. the trial judge found that the borrower understood the exchange rate risks;
  3. the debt exceeded the value of the property;
  4. the bank had judgment against the husband and was entitled to possession against him alone in any event.

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