Sydney studio Team Bondi is on the verge of declaring bankruptcy, according to a growing number of online sources. Mostly, the rumors are coming from the Neogaf discussion board, and the claims have not been substantiated by an official representative. While an official "statement is forthcoming," Develop claims that an unnamed company representative declined a request to comment.
The rumors suggest that Team Bondi's remaining staff are going to be snapped up by Kennedy Miller Mitchell (KMM) – a Sydney based production studio that works across a range of media, including games. Team Bondi head Brendan McNamara is also reportedly joining KMM too.
The Neogaf post reported that Rockstar Games owns the LA Noire IP. Rockstar Leeds is building the PC edition of LA Noire. Sources "close to the matter" have also told Develop that there is currently no partnership underway between Team Bondi and Rockstar Games.
Team Bondi's troubles began when current and former employees claimed that their names were either removed or omitted from the credits of LA Noire. This lead to further talk about the company's unhealthy work environment and a standard policy where developers were constantly working long hours to facilitate a never-ending "crunch time."
We will continue to follow this story as it develops.