UNITED STATES

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~~August 326, 2011

Berthel Growth & Income Trust I

(Exact name of registrant as specified in its charter)

Iowa	33-89506	52-1915821
(State of Incorporation)	(Commission File Number)	(IRS No.)

701 Tama Street, Marion, Iowa 52302

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (319) 447-5700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01 Completion of Acquisition or Disposition of Assets.

Berthel SBIC, LLC (Commission File number 811-08451) (“Berthel SBIC”), ~~the~~is ~~registrant’s~~a wholly -owned subsidiary of the registrant. The registrant previously reported that on January 27, 2009, the United States Court for the Northern District of Iowa entered a Consent Order and Judgment by which the court appointed the United States Small Business Administration is the receiver (the “Receiver”) for Berthel SBIC. Berthel SBIC owned ~~435~~1,~~590~~899,783 shares of common stock (the “~~FMS~~ Securities”) inof ~~Feed~~CeloNova ~~Management Systems~~BioSciences, Inc., a ~~privately~~Delaware ~~held~~corporation ~~company located in Minnesota~~ (“~~FMS~~CeloNova”). The ~~FMS~~ Securities represented all of the investment of Berthel SBIC’s ~~investment~~ in ~~FMS~~CeloNova, and there are no other material relationships between ~~FMS~~CeloNova and Berthel SBIC, or the registrant or any of ~~their~~Berthel SBIC’s or the registrant’s affiliates, directors, officers or any associate of any such director or officer.

InOn ~~the~~August ~~Receiver’s~~17, ~~Report (defined below in Section 8.01)~~2011, the Receiver ~~(defined~~and ~~below~~CleoNova inStent, ~~Section 8~~Inc.~~01)~~, ~~gave~~a ~~notice~~subsidiary ~~that~~of ~~FMS~~CeloNova ~~was~~(the ~~merged~~“Purchaser”) entered into ~~another~~a ~~company~~written ~~effective~~Securities ~~July~~Purchase 1,Agreement ~~2010~~(the “Agreement”). ~~The~~ ~~Receiver’s~~Pursuant ~~Report~~to ~~states~~the ~~that~~Agreement, ~~FMS~~Berthel ~~has~~SBIC ~~advised~~transferred ~~the~~all ~~Receiver~~of ~~that~~its noright, ~~proceeds~~title ~~from~~and ~~the~~interest ~~merger~~in ~~transaction~~the ~~are~~Securities ~~available~~ to ~~distribute to~~ the ~~holders of FMS common stock~~Purchaser. The ~~Receiver’s~~Purchaser ~~Report~~paid $18,997.83 ~~declares~~in ~~that~~cash ~~there~~as ~~will~~the besole noconsideration ~~recoveries~~ for ~~Berthel~~the ~~SBIC~~transfer inof ~~connection with~~ the ~~FMS~~ Securities,. ~~and~~The ~~the~~closing ~~Receiver~~on ~~recommends~~the ~~and~~transfer ~~requests~~of ~~that~~ the ~~Court~~Securities ~~(defined~~pursuant ~~below~~to ~~in Section 8.01) authorize~~ the ~~Receiver~~Agreement tooccurred ~~abandon~~on ~~further~~August ~~liquidation~~26, ~~efforts related to the FMS Securities~~2011.

Item 8.01 Other Events.

The registrant previously reported that on January 7, 2009, the United States Court for the Northern District of Iowa (the “Court”) entered a Consent Order and Judgment by which the Court appointed the United States Small Business Administration as the receiver (the “Receiver”) for Berthel SBIC, for the purpose of liquidating all of Berthel SBIC’s assets and satisfying the claims of its legitimate creditors in the order of priority as determined by the court. On March 3, 2011, the Receiver filed with the United States District Court for the Northern District of Iowa the Second Receiver’s Report (the “Receiver’s Report”) for the period January 1, 2010 through December 31, 2009. A copy of the Receiver’s Report is hereby furnished as Exhibit 99.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are furnished herewith:

Exhibit 99.1 Second Receiver’s Report for the period January 1, 2010 through December 31, 2010

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.

Berthel Growth & Income Trust I

(Registrant)

~~March~~August 331, 2011

(Date)

/s/ Ronald O. Brendengen

Ronald O. Brendengen, Chief Financial Officer of Berthel

Fisher & Company Planning, Inc., Trust Advisor

Filing Compare · BERTHEL GROWTH & INCOME TRUST I