liq·ui·date / ˈlikwəˌdāt/ • v. [tr.] 1. wind up the affairs of (a company or firm) by ascertaining liabilities and apportioning assets. ∎  [intr.] (of a company) undergo such a process. ∎  convert (assets) into cash: a plan to liquidate $10,000,000 worth of property over seven years. ∎  pay off (a debt).2. eliminate, typically by violent means; kill.DERIVATIVES: liq·ui·da·tion / ˌlikwəˈdāshən/ n.

LIQUIDATE

To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the corporation.