Virtuozzo 4.0 for Windows - Error 422 (Named Pipe connection failed, error #2 [The system cannot find the file specified)

Microsoft's Update KB951748, released July, breaks the Virtuozzo 4.0 Service Container. When accessing the Parallels Management Console, you're getting the error "Error 422 (Named Pipe connection failed, error #2 [The system cannot find the file specified)"

Fix:

Reinstall the Service Container.

From the command prompt, type in

vzsveinstall -s 10.184.88.xx -w -f

Lesson learned. Be sure to check updates first on the Virtuozzo website to avoid hassles.