Item 8.01. Other Events

Reference is made to the prior disclosure by The FINOVA Group, Inc. (the "Registrant") with respect to the pending legal proceedings 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.

On October 21, 2009, the United States Court of Appeals for the Third Circuit (the "Court") entered a judgment and issued an opinion denying the equity committee's appeal, affirming the rulings of the United States Bankruptcy Court for the District of Delaware and the United States District Court for the District of Delaware that the stockholders of the Company were not entitled to distributions under the Indenture governing the Registrant's 7.5% Senior Secured Notes.

Under the Court's rules, the equity committee may file a petition for rehearing within fourteen (14) days after the Court's entry of 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.

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