Report: LA Noire dev Team Bondi enters administration

You don't normally expect a company to release a well-reviewed hit in May and then enter administration three months later, but L.A. Noire maker Team Bondi is following a strange, tumultuous timeline. SmartCompany reports that the Sydney-based studio has been placed into administration, with accounting firm de Vries Tayeh handling the ongoing process.

A company in turmoil can be placed into administration to help facilitate payments to creditors, possibly through sale of assets or parts of the company. It's not known how exactly administration will proceed with Team Bondi, but earlier reports suggested that company assets were acquired by Kennedy Miller Mitchell (KMM), an Australian production company thought to be working on a Mad Max game. Staff at Team Bondi were reportedly offered jobs at KMM if they did not take severance pay.

If you're looking for further developments regarding the L.A. Noire franchise, it will be have to be at Rockstar -- the publisher owns the rights to what is likely to be the last game from Team Bondi as we knew it.

This article was originally published on Joystiq.