Bankruptcy
Where it is an organisation which cannot pay its debts, the creditors may ask the court to appoint a liquidator.  The liquidator does a very similar job to the trustee in bankruptcy except that there are no assets which are protected so the liquidator can sell everything.  Once all of the assets of the organisation have been sold, the organisation is then dissolved and no longer exists.  Organisations do not get discharged from bankruptcy in the same way that a living person does.