/ˌlɪkwɪˈdeɪʃənˈ/ – Noun
Definition: 1. việc thanh toán, việc thủ tiêu, việc giải thể, việc thanh lý;
2. việc xác định tổng số tiền;
3. việc trả nợ, việc thanh toán nợ.
A more thorough explanation: Liquidation refers to the process of winding up a business or company by selling off its assets to pay off its debts and distribute any remaining funds to its creditors or shareholders. It involves the orderly dissolution of a business entity, typically under the supervision of a court or a liquidator appointed by the company.
Example: Upon the company’s failure to pay its debts, the court ordered the liquidation of its assets to satisfy its creditors.