Liquidation procedures have been launched against Vac-based (north of Budapest) textile producer Senior Kotottarugyar Rt, a Dunaholding-interest, Napi Gazdasag reported today. Senior has accumulated nearly HUF1bn ($3.3m) debts. The company's current value is HUF500m-600m ($1.7m-$2m), plus HUF100m ($337,709) receivables.