What is the test for an application to set aside a default judgment?

There is no dispute that as was set out in the case of Miracle Feeds et al v. D&H Enterprises Ltd. et al (1979), 10 B.C.L.R. 58 (B.C.C.C.), to succeed in this type of application, the applicant must establish: 1)that he did not wilfully or deliberately fail to enter an appearance or file a defence in the plaintiff's claim; 2)that he made an application to set aside the default judgment as soon as reasonably possible after obtaining knowledge of the default judgment or give an explanation for any delay in the application being brought; 3)that he has a meritorious defence or at least a defence worthy of investigation; and 4)that the foregoing requirements are established to the satisfaction of the court through affidavit material filed by or on behalf of the defendant.