Team Bondi, developer of Rockstar hit LA Noire, is kaput. Edge reports that documents were filed with the Australian Securities and Investments Commission, indicating that the studio would close. The studio entered administration in late August, with its assets reportedly sold to Australian production company Kennedy Miller Mitchell.

Although LA Noire was an unquestionable hit for publisher Rockstar, becoming the "fastest-selling new video game IP ever in the UK," the game was on a separate narrative track from the internal drama going on at Team Bondi. Seven years of development took its toll on the staff and company.

In time, the truth will shake out about what went wrong at Team Bondi, in a year that should have established the studio as a force ending with its demise. For those who only care about the future of LA Noire ... don't you worry, IP holder Take-Two Interactive (parent company of Rockstar) isn't about to let a new series -- that shipped 4 million copies -- just disappear.

This article was originally published on Joystiq.

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