According to Yahoo!Finance, “The Westaim Corporation (WEDXF) is a private equity firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements.”
The Study of Failure
“While the weakening of the New England economy undoubtedly hurt, the last year has made clear that the company's most severe problems were the result of its own mistakes. It lent an astounding 36.7 percent of its total loans for risky commercial real estate projects, far more than neighboring banks, and it failed to adequately manage subsidiary banks and reduce costs.
“By the time a new management team headed by Lawrence K. Fish was installed early last year, it was too late. Like a leaky boat that fills with water faster than it can be bailed out, bad loans kept emerging faster than the company could solve its problems by slashing its payroll and selling subsidiaries.(Quint, Michael. "A Success Story Turn Sour in New England." New York Times, 7 Jan. 1991. Infotrac Newsstand. Accessed 17 Dec. 2018.).”