In law and business,
liquidation is the process by which a
company (or part of a company) is brought to an end, and the assets and property of the company are redistributed. Liquidation is also sometimes referred to as
winding-up or
dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when
customs, an
authority or
agency in a
country responsible for collecting and safeguarding
customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.