Starting emulator for AVD avd PANIC: Could not open: avd - Ubuntu 13.10

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I had been using the android sdk for quite some time in my Ubuntu. Recently, I upgraded it to Ubuntu 13.10. From then on, whenever I try to launch an android virtual device, I get this error :

Starting emulator for AVD 'Ace2'
PANIC: Could not open: Ace2

I tried changing the permissions for the files and folders but still no improvement. Any suggestion?

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