UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 0R 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): ~~June~~December 30 21, 2006

Commission File Number: 01-19203

PLM Equipment Growth Fund V, aLiquidating ~~California limited partnership~~Trust

(Exact name of registrant as specified in its charter)

California 94-3104548

	California		94-3104548
	(State or other jurisdiction of Incorporation)		(I.R.S. Employer Identification No.)

(State of jurisdiction (I.R.S. Employer

of Incorporation) Identification No.)

405 Lexington Avenue, 67^th Floor

New York, NY 10174

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 682-3344

~~Item 8.01 Other Events.~~1

OnItem ~~June~~1.01. Entry ~~30,~~into ~~2006, the Partnership completed its liquidation and dissolution pursuant to~~ a ~~Plan~~Material ofDefinitive ~~Dissolution and Liquidation (the “Plan”), which provided for the liquidation of the assets of, and the dissolution of, the Partnership.~~Agreement

InOn ~~furtherance~~December ~~of the Plan~~21, ~~the Partnership entered into a Liquidating Trust Agreement (the “Liquidating Trust Agreement”) with PLM Financial Services~~2006, ~~Inc.,~~ the ~~General~~Cortes ~~Partner~~Vessel ofLimited ~~the~~ Partnership ~~(the “Trustee”)~~, asan ~~trustee~~entity ofin ~~the~~ which PLM Equipment Growth Fund V Liquidating Trust (the “Liquidating Trust”). Asowns ofa ~~June~~47.5% 30interest, ~~2006,~~entered ~~the~~into ~~holders~~a memorandum of ~~general~~agreement ~~and~~to ~~limited~~sell ~~partner~~a ~~interest~~marine invessel ~~the Partnership~~to ~~received~~Champion aShipping ~~pro~~(“Champion”). Pursuant to the memorandum of agreement, ~~rata beneficial~~Champion ~~interest~~will inpurchase the ~~Liquidating~~marine ~~Trust~~vessel infor ~~exchange~~$10.4 ~~for~~million. ~~such~~The Liquidating ~~holder~~Trust’s ~~interest~~ inshare of the ~~Partnership~~sales proceeds will be $4.9 million.

InThe ~~accordance~~ closing ~~with~~of the ~~Plan~~transaction ~~and~~contemplated by the ~~Liquidating~~memorandum ~~Trust~~of ~~Agreement,~~agreement ~~the Partnership~~is ~~has~~ expected ~~transferred~~to ~~all~~occur ofwithin ~~its~~ninety ~~remaining~~(90) ~~cash~~days; ~~and~~provided, ~~non-cash~~however, ~~assets~~the closing is subject to numerous conditions, and ~~all~~there ofcan ~~its remaining~~be ~~liabilities~~no toassurance ~~the~~that ~~Liquidating~~closing will occur ~~Trust.~~in Onthat ~~June~~time 30frame, ~~2006,~~if ~~the Partnership~~at ~~filed~~all. If athis ~~Certificate~~transaction ofis ~~Dissolution~~consummated, delivery ~~and~~of athe ~~Certificate~~marine ofvessel ~~Cancellation with~~to ~~the~~Champion ~~Secretary~~will ofbe ~~State~~made ofimmediately ~~the~~prior to ~~State~~it undergoing ofmajor ~~California~~maintenance.

~~Item~~Other ~~9.01 Financial~~ than in respect of the memorandum of agreement, there are no material ~~Statements~~ relationships ~~and~~between ~~Exhibits~~the Liquidating Trust, Champion or any of their affiliates, or any director or officer of the Trustee of the Liquidating Trust, or any associate of such director or officer except that an affiliated entity of the Liquidating Trust has chartered another marine vessel to Champion.

~~(c) Exhibits~~2

2.1 Plan of Dissolution and Liquidation

10.2 Liquidating Trust Agreement

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.

PLM Equipment Growth Fund V, aLiquidating ~~California limited partnership~~Trust

By: PLM Financial Services, Inc.,

its ~~General Partner~~Trustee

By: /s/s Richard K Brock

Richard K Brock

Chief Financial Officer

Date: ~~June~~December 3022, 2006

Exhibit Index

Exhibit 2.1 Plan of Dissolution and Liquidation (filed herewith)

Exhibit 10.2 Liquidating Trust Agreement (filed herewith)

Filing Compare · PLM EQUIPMENT GROWTH FUND V