L.A. Noire developer Team Bondi is said to face bankruptcy according to several unconfirmed reports. The studio is set to be acquired by Sydney-based production house KMM.
KMM is currently working on the animated film Happy Feet 2, as well as the Mad Max movie. God of War 2 director Cory Barlog is leading the production house and is apparently working on a Mad Max game alongside the movie.
According to the NeoGAF report, the L.A. Noire IP is owned by Rockstar Games and not Team Bondi. Rumour has it that L.A. Noire is the last Team Bondi game that Rockstar will publish.