We mentioned Toyshare a while ago, and have received info from several sources claiming that Toyshare is not only in financial trouble, it is now been taken over by ClubRec.
This must be nervous news for those owning shares in the ‘club’, as your share becomes fairly worthless if your timeshare company goes bankrupt.
There may be an out for current members however, as your contract is likely with the old firm and may not be enforceable with the new owners. If they attempt to change terms at all, you can refuse and walk.
Best of luck to those owning in Toyshare Utah or Las Vegas.
