Liq`ui*da"tion(lk`w*d"shn), 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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Sun 16th December 2018