UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):

~~September~~October 1821, 2009

THE FINOVA GROUP INC.

THE FINOVA GROUP INC.
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

1-11011	86-0695381
(Commission File Number)	(IRS Employer Identification No.)

8300 N. Hayden Road, Suite 207,
Scottsdale Arizona	85258
(Address of Principal Executive Offices)	(Zip Code)

(480) 624-4988
(Registrant’s Telephone Number, Including Area Code)

8320 N. Hayden Road, Suite C112, Scottsdale, Arizona 85258
(Former Name or Former Address, if Changed Since Last Report)

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-11011	86-0695381
(Commission File Number)	(IRS Employer Identification No.)
8320 N. Hayden Road, Suite C112,
Scottsdale Arizona	85258
(Address of Principal Executive Offices)	(Zip Code)
(480) 624-4988
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 – Other Events

Item 8.01. Other Events

Reference is made to the ~~Registrant’s~~ prior disclosure by The FINOVA Group, Inc. (the “Registrant”) with respect to ~~certain~~the pending legal proceedings ~~against~~regarding distributions to stockholders involving the Registrant and its subsidiary, FINOVA Capital Corporation (collectively, the “Company”) contained in the Registrant’s previous filings with the Securities and Exchange Commission.

~~With~~On ~~respect~~October to21, ~~the Thaxton Life Partners~~2009, ~~Inc.~~the ~~(“TLP”)~~United ~~matter,~~States asCourt ~~previously~~of ~~disclosed,~~Appeals afor ~~hearing~~the ~~was~~Third ~~held~~Circuit in(the ~~August~~“Court”) ~~2009~~entered ~~before~~ a ~~panel~~judgment ofand ~~the~~issued ~~American~~an ~~Arbitration~~opinion ~~Association.~~denying Onthe ~~September~~equity ~~18,~~committee's ~~2009~~appeal, affirming the ~~panel~~rulings ~~issued~~of athe ~~unanimous~~United ~~Final~~States ~~Award,~~Bankruptcy ~~determining~~Court ~~that~~for ~~neither~~ the ~~evidence~~District ~~nor~~of Delaware and the ~~law~~United ~~supported~~States anDistrict ~~award~~Court ~~against~~for the ~~Company, concluding~~District of Delaware that the ~~plaintiffs~~stockholders inof the ~~TLP~~Company ~~action~~ were not entitled to distributions ~~obtain~~under ~~any~~the ~~recovery~~Indenture ~~against~~governing the ~~Company~~Registrant’s 7.5% Senior Secured Notes.

~~With~~Under ~~respect to~~ the ~~motion~~Court's ~~regarding distributions to stockholders~~rules, the ~~Company~~equity ~~has~~committee ~~been~~may ~~advised~~file bya ~~the~~petition ~~Clerk~~for ofrehearing ~~the~~within ~~Third~~fourteen ~~Circuit~~(14) ~~Court~~days ofafter ~~Appeals that~~ the ~~case~~Court’s ~~will~~entry beof ~~submitted on briefs on October 2, 2009 and that no oral argument will be heard on the matter~~judgment.

The equity committee may also seek to have the appeal considered by the United States Supreme Court by filing a petition for writ of certiorari within 90 days after the Court’s entry of judgment, or later in certain circumstances.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: ~~September~~October 22, 2009 THE FINOVA GROUP INC.

By:

/s/ Richard A. Ross

Richard A. Ross

Senior Vice President

Chief Financial Officer and Treasurer

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