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Dictionary Meaning and Definition on 'Liquidation'

Liquidation Meaning and Definition from WordNet (r) 2.0
  1. termination of a business operation by using its assets todischarge its liabilities [syn: settlement]
  2. the act of exterminating [syn: extermination]
  3. the murder of a competitor [syn: elimination]
Liquidation Meaning and Definition from Webster's Revised Unabridged Dictionary (1913)
    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 beingliquidated.To go into liquidation (Law), to turn over to a trusteeone's assets and accounts, in order that the severalamounts of one's indebtedness may be authoritativelyascertained, and that the assets may be applied towardtheir discharge.
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Wikipedia Meaning and Definition on 'Liquidation'

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).

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