The most common and most likely answer to this crossword clue is the 11 letter word DISSOLUTION
D
I
S
S
O
L
U
T
I
O
N
More clues leading to the result DISSOLUTION
Buddy explains!

The straight part
We know that "debauchery" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case debauchery = dissolution.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DISSOLUTION mean?
DISSOLUTION noun- The termination of an organized body or legislative assembly, especially a formal dismissal.
- Disintegration, or decomposition into fragments.
- Dissolving, or going into solution.
- The quality of being dissolute.