What are the requirements for a default judgment to be overturned?

Counsel both refer me in that respect to the decision in Miracle Feeds v. D. & H. Enterprises, [1979] B.C.J. No. 1965. There are four tests referred to there: 1. That the defendant did not wilfully or deliberately fail to enter an appearance or file a defence to the plaintiff’s claim; 2. That the defendant made an application to set aside the default judgment as soon as reasonably possible after obtaining knowledge, or give an explanation for the delay in bringing the application; 3. That there is a meritorious defence or at least a defence worthy of investigation; 4. That these requirements will be established to the satisfaction of the court through affidavit material filed by or on behalf of the defendant.