Ann: Redflow enters Voluntary Administration, page-134

Actually, it's not a complete crock. The only thing that @SimonGr omitted is that there is a board that sits between the shareholders and the company. The board is supposed to act in the interests of the shareholders, and has authority over the company's management.

That point he made about it being a "proprietary limited" company is very important. It means that your financial exposure (proprietorship) to the company is limited to the price you paid for your shares. It's the only thing that sits between you and a lawsuit from the customers, and being personally liable to the creditors if the company can't pay them out with its own resources.