Team Bondi Employees Owed Over $1 Million
Over 75% of the defunct L.A. Noire studio's debt is owed in unpaid wages and bonuses.
Following months of into liquidation [http://www.escapistmagazine.com/news/view/111675-LA-Noire-Dev-Denies-Poor-Working-Condition-Accusations] earlier this week. Now an analysis of the papers filed during its liquidation has revealed that most of the company's debt - over 75% - is owed not to corporate creditors, but rather to former employees.
According to Edge [http://www.next-gen.biz/news/team-bondi-owed-1-million-staff], papers filed to the Australian Securities and Investment Commission reveal that Team Bondi's total outstanding debt comes to AU$1,425,156.78 ($1,402,265.97), of which $1,074,283.28 is owed to former employees in unpaid wages and bonuses. The studio's former boss, Brendan McNamara, took the biggest single hit; he alone is owed $102,495.16. Three of his top colleagues, all of whom disputed claims of horrendous working conditions in the run-up to development milestones, are also owed between $99,155.21 and $19,120.17.
On the corporate side, Depth Analysis, a company which is owned by McNamara and was used to develop L.A. Noire's revolutionary facial animations, is owed a total of $145,795.83. Bogus Films, the casting agency run from the same address as Team Bondi, is owed $24,781.75. Team Bondi's accountants are owed a total of $54,427.01.
Although L.A. Noire sold reasonably well and shipped over 4 million copies worldwide, its development was seriously hampered by bad management and employee dissatisfaction. International Game Developers Association (IGDA) [http://www.escapistmagazine.com/news/view/111340-IGDA-Investigating-L-A-Noire-Dev] will hopefully put to rest the arguments over working conditions - but in the meantime, former employees will be left wondering how long it'll take for their unpaid wages to be fulfilled by what's left of Team Bondi's assets.
Source: Edge [http://www.next-gen.biz/news/team-bondi-owed-1-million-staff]
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Over 75% of the defunct L.A. Noire studio's debt is owed in unpaid wages and bonuses.
Following months of into liquidation [http://www.escapistmagazine.com/news/view/111675-LA-Noire-Dev-Denies-Poor-Working-Condition-Accusations] earlier this week. Now an analysis of the papers filed during its liquidation has revealed that most of the company's debt - over 75% - is owed not to corporate creditors, but rather to former employees.
According to Edge [http://www.next-gen.biz/news/team-bondi-owed-1-million-staff], papers filed to the Australian Securities and Investment Commission reveal that Team Bondi's total outstanding debt comes to AU$1,425,156.78 ($1,402,265.97), of which $1,074,283.28 is owed to former employees in unpaid wages and bonuses. The studio's former boss, Brendan McNamara, took the biggest single hit; he alone is owed $102,495.16. Three of his top colleagues, all of whom disputed claims of horrendous working conditions in the run-up to development milestones, are also owed between $99,155.21 and $19,120.17.
On the corporate side, Depth Analysis, a company which is owned by McNamara and was used to develop L.A. Noire's revolutionary facial animations, is owed a total of $145,795.83. Bogus Films, the casting agency run from the same address as Team Bondi, is owed $24,781.75. Team Bondi's accountants are owed a total of $54,427.01.
Although L.A. Noire sold reasonably well and shipped over 4 million copies worldwide, its development was seriously hampered by bad management and employee dissatisfaction. International Game Developers Association (IGDA) [http://www.escapistmagazine.com/news/view/111340-IGDA-Investigating-L-A-Noire-Dev] will hopefully put to rest the arguments over working conditions - but in the meantime, former employees will be left wondering how long it'll take for their unpaid wages to be fulfilled by what's left of Team Bondi's assets.
Source: Edge [http://www.next-gen.biz/news/team-bondi-owed-1-million-staff]
Permalink