Stockland (Macquarie) Pty Ltd v Australia & New Zealand Banking Group Ltd

Stockland (Macquarie) Pty Ltd sought special leave to appeal to the High Court of Australia from a decision of the Full Court. The dispute concerned the interpretation of a statutory provision, with the respondent, Australia & New Zealand Banking Group Ltd, arguing that the issue was a matter of statutory construction with no error in principle and was of little general interest or application.

The primary legal issue before the High Court was the construction of a specific section of Queensland legislation, particularly in relation to the definition of "mortgage" within the context of Torrens Title legislation. The respondent contended that comparable provisions in other Australian states and territories differed materially, and that this was the first instance of this particular issue arising for determination in any court.

The respondent argued that the problem was unlikely to arise in practice, as secured creditors would consider the advantages and disadvantages of taking possession, and lessors would have remedies such as terminating a lease if rent was not paid. The respondent also submitted that the decision of the Full Court was clearly correct, referencing observations from Mason J in *K & S Lake City Freighters Pty Ltd v Gordon & Gotch Ltd* regarding the cardinal rule of statutory interpretation that a section should not be read in isolation from the enactment of which it forms a part.