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liquidation: Meaning and Definition of
liq•ui•da•tion
Pronunciation: (lik"wi-dā'shun), [key] — n.
- the process of realizing upon assets and of discharging liabilities in concluding the affairs of a business, estate, etc.
- the process of converting securities or commodities into cash.
- the state of being liquidated: an estate in liquidation.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.