LA Noire developer Team Bondi has gone into administration, according to a report by the Australian Securities and Investments Commission, which says the former Rockstar-backed studio received a notification of discharge on August 26.
Rumours surrounding the studio's imminent financial collapse first emerged early last month following widespread reports that the developer had had a major falling out with LA Noire publisher Rockstar and the pair had no future plans to work together. Reports also suggested Rockstar and not Team Bondi owns the LA Noire IP.
It was recently claimed that the LA Noire dev was being acquired by KMM Studios, the Australian developer working on Happy Feet 2. This morning that doesn't appear to be the case.
Team Bondi's status with ASIC has been changed to 'Under External Administration and/or Controlled Receivership', although it's noted it can take up to 28 days for a company filing for administration to become public.
There's no word yet on the fate of Team Bondi's sister company Depth Analysis, which was responsible for the impressive Motionscan tech seen in Rockstar's crime thriller.
We're absolutely baffled by this. What happened to all that LA Noire money? We'll bring you more as we get it...