LA Noire developer goes titsup
Team Bondi hits dark times
Australia’s international gaming success story, Team Bondi, the developer behind LA Noire, has been placed into administration.
The development studio has been hit by some controversy in recent months, with rumours that it had sold its IP to rival development house, KMM Studios, last month and an unceremonious parting of ways with the publisher of LA Noire, Rockstar.
Disgruntled former employees have also circulated stories  about bad working conditions and management issues in recent months.
The studio was founded in 2003 by ex-Sony boffin Brendan McNamara and was seen as the leading light in commercially successful Australian game development.
It is understood that administrators will attempt to raise cash for creditors by selling off assets, reducing costs or finding a buyer for the troubled studio.
Rumours have been circling in recent weeks that key members of Team Bondi management were seen at filmmaker George Miller’s studio, prompting talk of a buyout. Miller owns KMM and digital animations offshoot Dr D Studio.
According to the Australian Securities and Investments Commission, Riad Tayeh and David Solomons of de Vries Tayeh were appointed as joint administrators of the company on August 30.
A creditor’s meeting is due to take place in Sydney today (Friday September 2nd). ®