The Court declined to set aside a default judgment entered against the first defendant, finding that the only adequately raised defence was a partial limitations defence under s 5(7) of the Limitations of Actions Act 1958 (Vic) regarding statute-barred interest. The judgment was varied (reduced by $106,208.20) rather than set aside, as the defences of estoppel, waiver, and laches were not supported by sufficient evidence and the notice defence under the Transfer of Land Act was moot given judgment was for debt alone. The Court also found that substantial delay in bringing the application and doubt about the defendant's capacity to meet a costs order weighed against setting aside the judgment.
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