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| FNVG.OB > SEC Filings for FNVG.OB > Form 8-K on 22-Sep-2009 | All Recent SEC Filings |
22-Sep-2009
Other Events
Reference is made to the Registrant's prior disclosure with respect to certain pending legal proceedings against 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 respect to the Thaxton Life Partners, Inc. ("TLP") matter, as previously disclosed, a hearing was held in August 2009 before a panel of the American Arbitration Association. On September 18, 2009, the panel issued a unanimous Final Award, determining that neither the evidence nor the law supported an award against the Company, concluding that the plaintiffs in the TLP action were not entitled to obtain any recovery against the Company.
With respect to the motion regarding distributions to stockholders, the Company has been advised by the Clerk of the Third Circuit Court of Appeals that the case will be submitted on briefs on October 2, 2009 and that no oral argument will be heard on the matter.
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