UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                   FORM 13F

                              FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  September 30, 2012

Check here if an Amendment [ ];  Amendment Number:
        This Amendment (Check only one.):      [ ] is a restatement.
                                               [ ] adds new holdings entries.

INSTITUTIONAL INVESTMENT MANAGER FILING THIS REPORT:

Name:     Avenue Capital Partners V, LLC
Address:  c/o Avenue Capital Management II, L.P.
          399 Park Avenue, 6th Floor
          New York, New York  10022

Form 13F File Number:  028-13480

The  institutional  investment manager filing this report and the person by whom
it is signed hereby represent  that  the person signing the report is authorized
to  submit  it,  that all information contained  herein  is  true,  correct  and
complete, and that  it  is  understood  that  all  required  items,  statements,
schedules, lists, and tables, are considered integral parts of this form.

PERSON SIGNING THIS REPORT ON BEHALF OF REPORTING MANAGER:

Name:      Eric Ross
Title:     Attorney-in-Fact for Marc Lasry,
           Managing Member of the Managing Member of
           Avenue Capital Partners V, LLC
Phone:     (212) 878-3520

Signature, Place, and Date of Signing:

/s/ Eric Ross            New York, New York       November 14, 2012
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  [Signature]                 [City, State]              [Date]

REPORT TYPE (Check only one.):

[ ]  13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[X]  13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[ ]  13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)

LIST OF OTHER MANAGERS REPORTING FOR THIS MANAGER:

Form 13F File Number            Name

028-10797                       Marc Lasry