liquidate

v. (-ting) 1 wind up the affairs of (a firm) by ascertaining liabilities and apportioning assets. 2 pay off (a debt). 3 wipe out, kill.  liquidator n. [medieval latin: related to *liquid]

v. t. To determine by agreement or by litigation the precise amount of (indebtedness); or, where there is an indebtedness to more than one person, to determine the precise amount of (each indebtedness); to make the amount of (an indebtedness) clear and certain.