content: 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) March 18, 2002
  
                   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.)
  
  
  One Rockefeller Plaza, Suite 2412, New York, New York 10020
  -----------------------------------------------------------
  (Addresses of principal executive offices)      (Zip Code)
  
  (212) 218-1850
  --------------------------------------------------------------
  (Registrant's telephone number, including area code)
  
  
  
  
  
  <PAGE>
  ITEM 5. OTHER EVENTS
  
  The Company  commenced an action in the Superior  Court of  Pennsylvania  in the
  Court of Common Pleas of Philadelphia County against American Financial Mortgage
  Corp., Thomas F. Flatley, Northwest Funding, Inc. And Corestates Bank, N.A.
  
  After trial, on December 4, 2000 a judgment was entered (a) against the bank and
  in favor of the Company as follows: compensatory damages in the amount of
  $1,779,520 plus interest of $78,854, consequential damages in the amount of
  $13,500,000, punitive damages in the amount of $40,500,000, for a total of
  $55,858,374 and (b) in favor of the Company against American Financial Mortgage
  Corp. and Thomas F. Flatley as follows: compensatory damages on the contract and
  conversion in the amount of $1,779,520 plus interest of $890,443 on the contract
  claims, attorney's fees in the amount of $1,200,000, for a total of $3,869,963.
  The defendants have appealed the judgment. On March 18, 2002 the Superior Court
  issued its opinion in the appeal affirming the lower courts judgement of
  $1,779,519.99 (compensatory damages) and $13,500,000 consequential damages and
  ordered a new trial solely on the award of punitive damages in the amount of
  $40,500,000.
  
  The Company had settled its judgment against Thomas F. Flatley. The Company can
  not determine at this time whether any additional appeals will occur and when
  and if a new trial on the issue of punitive damages will occur.
  
  
  <PAGE>
  
  
                                     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/ M. Ablert Nissim
                                             --------------------------
                                           M. Albert Nissim, President
  
  
  
  DATED:  March 20, 2002
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "f8k-302.txt", "secsgml_size_bytes": 3333}]
metadata_filer: {"company-data": {"conformed-name": "PIONEER COMMERCIAL FUNDING CORP /NY/", "cik": "0000867713", "assigned-sic": "6162", "irs-number": "133763437", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24940", "film-number": "02579408"}, "business-address": {"street1": "21700 ONXARD STREET", "street2": "C/O OHRENSTEIN & BROWN", "city": "WOODLAND HOLLS", "state": "CA", "zip": "91367", "phone": "8187760590"}, "mail-address": {"street1": "6660 RESODA BOULEVARD", "city": "RESODA", "state": "CA", "zip": "91335"}, "former-company": {"former-conformed-name": "PCF ACQUISITION CORP", "date-changed": "19941017"}}
text: 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) March 18, 2002
  
                   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.)
  
  One Rockefeller Plaza, Suite 2412, New York, New York 10020
  -----------------------------------------------------------
  (Addresses of principal executive offices)      (Zip Code)
  
  (212) 218-1850
  --------------------------------------------------------------
  (Registrant's telephone number, including area code)
  ITEM 5. OTHER EVENTS
  
  The Company  commenced an action in the Superior  Court of  Pennsylvania  in the
  Court of Common Pleas of Philadelphia County against American Financial Mortgage
  Corp., Thomas F. Flatley, Northwest Funding, Inc. And Corestates Bank, N.A.
  
  After trial, on December 4, 2000 a judgment was entered (a) against the bank and
  in favor of the Company as follows: compensatory damages in the amount of
  $1,779,520 plus interest of $78,854, consequential damages in the amount of
  $13,500,000, punitive damages in the amount of $40,500,000, for a total of
  $55,858,374 and (b) in favor of the Company against American Financial Mortgage
  Corp. and Thomas F. Flatley as follows: compensatory damages on the contract and
  conversion in the amount of $1,779,520 plus interest of $890,443 on the contract
  claims, attorney's fees in the amount of $1,200,000, for a total of $3,869,963.
  The defendants have appealed the judgment. On March 18, 2002 the Superior Court
  issued its opinion in the appeal affirming the lower courts judgement of
  $1,779,519.99 (compensatory damages) and $13,500,000 consequential damages and
  ordered a new trial solely on the award of punitive damages in the amount of
  $40,500,000.
  
  The Company had settled its judgment against Thomas F. Flatley. The Company can
  not determine at this time whether any additional appeals will occur and when
  and if a new trial on the issue of punitive damages will occur.
  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/ M. Ablert Nissim
                                             --------------------------
                                           M. Albert Nissim, President
  
  DATED:  March 20, 2002