Thu, Sep 01, 2011 | 07:14 BST
Report – Team Bondi goes into administration
Sydney-based L.A. Noire developer Team Bondi is said to be in dire financial straits.
Australian entrepreneurial site SmartCompany reports Team Bondi was put under administration by the Australian Securities and Investments Commission on August 30.
A creditor’s meeting has been scheduled for tomorrow. In the meantime, Team Bondi has vacated its offices, leaving no media contact details.
The developer was rumoured to be in negotiations with George Miller’s fim studio KMM regarding a buy out. KMM was said to be scooping up both staff and assets.
Businesses file for administration when they are unable to meet the financial demands of creditors. Despite L.A. Noire’s success, the scandal-chased developer has reportedly struggled to find publisher backing for future projects.
Thanks, Gamespot.
15 
Posted in: Australia, Trade
Tags: administration, team bondi
15 comments
#1
triggerhappy
01/09/11, 5:18 am
Holy shit.
#2
MegaGeek1
01/09/11, 5:41 am
If I could predict the future I would have bought LA Noire instead of renting it for 2 weeks. I wish this team all the best. Truly a bunch of talented auzies they are.
#3
JimFear-666
01/09/11, 5:59 am
anyone surprised?
With all the bad press the studio had… its a known fact that no one in the industry want to be associated with team bondi.
Sad but true.
#4
rrw
01/09/11, 6:35 am
sorry but i dont understand what the meaning of “in administration”
#5
triggerhappy
01/09/11, 6:43 am
@ 4: “Businesses file for administration when they are unable to meet the financial demands of creditors”
http://en.wikipedia.org/wiki/Administration_%28law%29
#6
rrw
01/09/11, 6:44 am
So that mean the studio is will be closed?
#7
triggerhappy
01/09/11, 6:56 am
^ im not 100% sure of the in’s and out’s but it looks like it
from what ive read on here no publisher wants to touch them. Probably because of all the McNamara controversy. Shame 
#8
Sorvin
01/09/11, 7:46 am
What does this mean for the PC version of LA Noire then?
Or is that being made by someone else?
#9
Maximum Payne
01/09/11, 9:30 am
@8 Luckily PC version are handle by Rockstar.
#10
UKTomm
01/09/11, 10:07 am
@7 They could of just fired the guy
#11
Ireland Michael
01/09/11, 10:30 am
Going into administration means that a company is allowed to continue running even if they’re insolvent. Makes me wonder why they’ve basically up and left the building then. I can’t see them lasting much longer.
#12
DaMan
01/09/11, 2:38 pm
I thought their game sold well enough?
#13
Maximum Payne
01/09/11, 2:40 pm
@10 I don’t think he was problem.Problem was game was developed for like 6 years + bills for cameras and actors they used for game and that cost lot of money.
#14
DSB
01/09/11, 2:44 pm
It has nothing to do with controversy, the guy just wasn’t very good at his job. He had a game in development for 6-7 years. That’s half the time it took to make Duke Nukem Forever.
Of course he was the problem, not because he was an asshole, but because he was an asshole who didn’t get things done.
#15
Dr.Ghettoblaster
01/09/11, 3:53 pm
Real shame for such a breakthrough landmark title – they deserve better than this