  In this work we prove that the initial value problem (IVP) for the fifth
order Korteweg-de Vries equation \begin{align*} \left. \begin{array}{rlr}
u_t+\partial_x^5 u+u\partial_x u&\hspace{-2mm}=0,&\quad x\in\mathbb R,\; t>0,\\
u(x,0)&\hspace{-2mm}=u_0(x),& \end{array} \right\} \end{align*} has a unique
local solution in time in the Bourgain spaces $X^{s,b}$ for appropriate values
of $s$ and $b$. Besides we prove a regularity property concerning the nonlinear
part of that solution. Finally, using the previous property we establish a
dispersive blow-up result for global in time solutions of this IVP.
