Team Bondi goes into administration

The fate of L.A. Noire developer Team Bondi appears to be all but sealed, with reports that the studio has been placed into administration following last month's rumors that its intellectual property and assets were sold to Sydney-based multimedia production firm Kennedy Miller Mitchell.

According to a SmartCompany report, documents filed with the Australian Securities and Investments Commission show Riad Tayeh and David Solomons of De Vries Tayeh were appointed as joint administrators of Team Bondi on August 30.

This news comes after a troubled period for the L.A. Noire developer. Its reputation was tarnished earlier this year when employee complaints about working conditions and credits omissions drew the attention of the International Game Developers Association. At the time, one of Team Bondi's senior-most developers said the studio would learn from its mistakes.

At this stage, it is still unknown whether Team Bondi's recent troubles were the direct cause of the company being placed into administration. GameSpot's attempts to contact Team Bondi, KMM, and De Vries Tayeh have been unsuccessful as of publication time.

[UPDATE]: A listing on the Australian Securities & Investments Commission website confirms that Team Bondi Pty. Limited is now "under external administration and/or controlled appointment".

For more on L.A. Noire, check out GameSpot's review.