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): December 22, 2006

Commission File Number: 01-19203

PLM Equipment Growth Fund V Liquidating Trust

(Exact name of registrant as specified in its charter)

	California		94-3104548
	(State or other jurisdiction of Incorporation)		(I.R.S. Employer 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 2.01 Completion of Acquisition or Disposition of Assets.

On December 22, 2006, PLM Equipment Growth Fund V Liquidating Trust (the “Liquidating Trust”) sold a DeHavilland DHC-8-301 aircraft for cash proceeds of $2.7 million to Compass Capital Corporation (“Compass).

Other than in respect of the aircraft purchase agreement, there are no material relationships between Compass and the Liquidating Trust, 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.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

10.1 Aircraft Purchase Agreement C-GVTA dated as of December 22, 2006 between Wells Fargo Bank Northwest, National Association and Compass Capital Corporation.

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 Liquidating Trust

By: PLM Financial Services, Inc.,

its Trustee

By: s/s Richard K Brock

Richard K Brock

Chief Financial Officer

Date: December 22, 2006

Exhibit Index

Exhibit 10.1

Aircraft Purchase Agreement C-GVTA dated as of December 22, 2006 between Wells Fargo Bank Northwest, National Association and Compass Capital Corporation (filed herewith).

PLM EQUIPMENT GROWTH FUND V 8-K