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): March 23, 2007

Commission File Number: 0-28376

Professional Lease Management Income Fund I Liquidating Trust

(Exact name of registrant as specified in its charter)

	Delaware		94-3209289
	(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 8.01 Other Events

On March 23, 2007, PLM Financial Services Inc., the Trustee of Professional Lease Management Income Fund I Liquidating Trust (the “Liquidating Trust”), declared a cash distribution of $2.16 unit of beneficial interest in the Liquidating Trust, payable on March 30, 2007 to beneficial interest holders of record of the Liquidating Trust as of March 23, 2007. The total amount to be distributed will be $14.3 million of which $3.6 million will be distributed to the Trustee, reflecting its beneficial interest in the Liquidating Trust, and $10.7 million will be distributed to other holders of beneficial interest in the Liquidating Trust. Effective upon such distribution, the Liquidating Trust will be terminated.

Except as described herein, the Liquidating Trust has now liquidated all of its assets and paid or reserved for all of its known or expected liabilities.

Approximately $100,000 of the Liquidating Trust’s cash (approximately $0.02 per unit of beneficial interest) is being retained by the Liquidating Trustee of the Liquidating Trust as a reserve for costs and any other liabilities arising after the Liquidating Trust’s termination. Such costs may include those relating to storage and records retention, responding to investor inquiries, property taxes, legal fees, accounting fees or other miscellaneous expenses. After a maximum of three years, any remaining cash will be distributed to the beneficial interest unit holders.

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.

Professional Lease Management Income Fund I Liquidating Trust

By: PLM Financial Services, Inc.,

its Trustee

By: s/s Richard K Brock

Richard K Brock

Chief Financial Officer

Date: March 23, 2007

PROFESSIONAL LEASE MANAGEMENT INCOME FUND I LLC 8-K