Liquidation /(lĭk`wĭ*dā"shŭn)/

Liq·ui·da·tion

Liquidation

n.
  1. The act or process of liquidating; the state of being liquidated.

Phrases & Compounds
To go into liquidation
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.