liquidation n
1. termination of a business operation by using its assets to discharge its liabilities [syn: settlement]
2. the act of exterminating [syn: extermination]
3. the murder of a competitor [syn: elimination]

Liquidation \Liq`ui*da"tion\ (l[i^]k`w[i^]*d[=a]"sh[u^]n), n. [Cf. F. liquidation.] The act or process of liquidating; the state of being liquidated. To go into liquidation (Law), to turn over to a trustee one's assets and accounts, in order that the several amounts of one's indebtedness may be authoritatively ascertained, and that the assets may be applied toward their discharge.

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In law, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation) or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors, see below).

• Guidance for liquidation accounting
  Guidance issued by the FASB in the US requires entities using liquidation basis to measure their assets at the amount they expect to collect upon sale. Read more on this news related to 'Liquidation'
• SA Roadlink denies liquidation claims
  Bus company SA Roadlink has said that it is solvent despite reports that it faces liquidation if it does not repay a multimillion-rand bank loan. Read more on this news related to 'Liquidation'
• Customers call liquidation sale a scam
  Consumers say a so-called "liquidation sale" being held at the former Office Depot on Elmwood Avenue was a scam. Read more on this news related to 'Liquidation'