LA Noire developer Team Bondi is on the verge of bankruptcy, according to a growing number of unconfirmed online reports.
A post on NeoGAF claims the studio is facing financial collapse, and that - as reported elsewhere last week - it's in line to be acquired by Sydney-based production studio KMM, which is making the animated film Happy Feet 2 and the upcoming Mad Max movie. KMM is currently headed up by God of War 2 director Cory Barlog, who's said to be working on a Mad Max game to release alongside the new movie.
The report also suggests publisher Rockstar and not Team Bondi owns the LA Noire IP. The two companies are said to have had a major falling out and have no future plans to work together.