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Report – Team Bondi goes into administration

Thursday, 1st September 2011 04:45 GMT By Brenna Hillier

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.

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15 Comments

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  1. triggerhappy

    Holy shit.

    #1 3 years ago
  2. MegaGeek1

    :(
    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.

    #2 3 years ago
  3. JimFear-666

    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.

    #3 3 years ago
  4. rrw

    sorry but i dont understand what the meaning of “in administration”

    #4 3 years ago
  5. triggerhappy

    @ 4: “Businesses file for administration when they are unable to meet the financial demands of creditors”

    http://en.wikipedia.org/wiki/Administration_%28law%29

    #5 3 years ago
  6. rrw

    So that mean the studio is will be closed?

    #6 3 years ago
  7. triggerhappy

    ^ 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 :(

    #7 3 years ago
  8. Sorvin

    What does this mean for the PC version of LA Noire then?
    Or is that being made by someone else?

    #8 3 years ago
  9. Maximum Payne

    @8 Luckily PC version are handle by Rockstar.

    #9 3 years ago
  10. UKTomm

    @7 They could of just fired the guy :(

    #10 3 years ago
  11. Ireland Michael

    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.

    #11 3 years ago
  12. DaMan

    I thought their game sold well enough?

    #12 3 years ago
  13. Maximum Payne

    @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.

    #13 3 years ago
  14. DSB

    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.

    #14 3 years ago
  15. Dr.Ghettoblaster

    Real shame for such a breakthrough landmark title – they deserve better than this :(

    #15 3 years ago