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Team Bondi in Administration

When it was reported last month that the assets of Team Bondi were sold to Sydney production studio Kennedy Miller Mitchell, it was said to be "unclear" if the controversial developer of L.A. Noire would "continue as an ongoing concern." Now Smart Company has word that Team Bondi is in administration. Here's some of the report, which leaves the sale of Team Bondi assets in question:

According to documents filed with the Australian Securities and Investments Commission, Riad Tayeh and David Solomons of de Vries Tayeh were appointed as joint administrators of the company on August 30.

The appointment comes weeks after the business was rumoured to be selling assets and intellectual property to filmmaker George Miller’s studio KMM.

However, when SmartCompany contacted KMM and its Dr D Studio division, it was advised no comment would be provided.

It is still unknown whether the appointment of an administrator is related to the rumoured transaction, or whether it will be going ahead at all.

When SmartCompany contacted the Team Bondi office this morning, it was informed the company was no longer located there. It was also told that no person would be available to handle media enquiries going forward.

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13. Re: removed Sep 2, 2011, 02:58 Ludomancer
 
Just for clarification - the game industry uses "Administration" in press releases when layoffs happen. Not necessarily because they actually are in legal terms. It's often meant to disguise or sugar-coat what the company is really doing, in the same way that some companies use "downsizing", or some game studios use "seasonal employment".

Yeah, I'm bitter. But not ignorant. Not on this topic.
 
Previous Post Reply Quote Edit Delete Report
 
    Date Subject Author
  1. Sep 1, 10:07 Re: Team Bondi in Administration Parallax Abstraction
  2. Sep 1, 10:44  Re: Team Bondi in Administration Ludomancer
  3. Sep 1, 10:50   Re: Team Bondi in Administration Beamer
  4. Sep 1, 11:07    Re: Team Bondi in Administration Quboid
  7. Sep 1, 12:13     Re: Team Bondi in Administration LittleMe
  5. Sep 1, 11:07    Re: Team Bondi in Administration Creston
  11. Sep 1, 14:42     Re: Team Bondi in Administration Beamer
  6. Sep 1, 11:50 some people got to have it space captain
  8. Sep 1, 12:23 "dissonance" space captain
  9. Sep 1, 12:29 Re: Team Bondi in Administration Parallax Abstraction
  10. Sep 1, 12:55  Re: Team Bondi in Administration DG
  12. Sep 1, 22:19 removed erher
>> 13. Sep 2, 02:58  Re: removed Ludomancer


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