In case a company has no liabilities, or if its liabilities will be settled through the liquidation process, then the company can be liquidated.
These liquidations are also called dissolution.
The liquidator is usually the previous head of the company.
For the liquidation process, you need a good accountant and an experienced lawyer. In case the company has liabilities, but it does not accept the payment duty on them, the company can only be liquidated through a windup process, which is conducted by a liquidator appointed by the Registry Court.