SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) July 27, 2000
PIONEER COMMERCIAL FUNDING CORP.
(Exact name of registrant as specified in its charter)
New York
(State or Other Jurisdiction of Incorporation)
0-249408-NY 13-3763437
(Commission File Number) (I.R.S. Employer Identification No.)
21700 Oxnard Street, Suite 1650, Woodland Hills, CA 91367
(Addresses of principal executive offices) (Zip Code)
(818) 346-1921
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
Pioneer Commercial Funding Corp., in a jury trial in the Court
of Common Pleas of Philadelphia County against Defendant, First
Union Bank (NYSE:FTU), successor by merger to CoreStates Bank,
N.A. ("Bank") and other Defendants, was awarded direct damages
of $1,779,000, consequential damages of $13,400,000 and
punitive damages in the amount of $337,500,000 for an aggregate
total of $352,679,000.
Pioneer Commercial Funding Corp. has 2,771,136 shares of common
stock outstanding
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SIGNATURES
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.
PIONEER COMMERCIAL FUNDING CORP.
(Registrant)
By: /s/ David W. Sass
David W. Sass, Secretary
DATED: July 27, 2000
