Drain out bottom (5)
I believe the answer is:
nadir
'bottom' is the definition.
(thesaurus)
'drain out' is the wordplay.
'out' is an anagram indicator (out can mean wrong or inaccurate).
'drain' is an anagram of 'NADIR'.
(Other definitions for nadir that I've seen before include "lowest of the low" , "pits" , "businessman formerly escaping justice" , "Low-water mark" , "You can't sink lower!" .)