A filing by the Australian Securities And Investments Commission confirms that developer Team Bondi will close their doors. Official form confirmed that a liquidator has been appointed to sell the remaining assets, and the company will be shuttered after creditors are met.

Despite the success of Team Bondi’s L.A. Noire, negative publicity over studio head Brendan McNamara’s management style and a cooling relationship with publisher Rockstar Games may have sunk the company. It is believed that at least some of Team Bondi’s assets and IP were sold to Australian film company KMM, with staff at Bondi told to accept a job with KMM or accept severance terms.

Source: Next Gen  {link no longer active}