2061565 - "Error Opening File" on Outbound MDM Adapter channel

An Outbound MDM Adapter communication channel fails to to pick up the files from the configured ready folder after an syndication event.
The following errors are issued in the default traces:

Could not process MDM syndication event due to: Error Opening File (0x80020002)

com.sap.mdm.commands.CommandException: Error Opening File (0x80020002)
    at com.sap.mdm.repository.commands.GetPortDataFilesCommand.executeImpl(GetPortDataFilesCommand.java:106)
    at com.sap.mdm.commands.AbstractCommandBase.execute(AbstractCommandBase.java:129)
    at com.sap.mdm.xiadapter.util.MdmUtil.getPortDataFiles(MdmUtil.java:198)
    at com.sap.mdm.xiadapter.listener.MdmRepositorySyndicationListener.processOutboundPortFiles(MdmRepositorySyndicationListener.java:230)
    at com.sap.mdm.xiadapter.MdmSender.start(MdmSender.java:53)
    at com.sap.mdm.xiadapter.jca.XIConfiguration.channelAdded(XIConfiguration.java:160)
    at com.sap.aii.af.service.administration.impl.AdminManagerImpl.notifyChannelActivationStateChanged(AdminManagerImpl.java:805)
    at com.sap.aii.af.service.administration.impl.cluster.ClusterManager.eventReceivedSync(ClusterManager.java:594)
    at com.sap.aii.af.service.event.impl.worker.sync.SyncLocalWorker.work(SyncLocalWorker.java:52)
    at com.sap.aii.af.service.event.impl.worker.sync.AbstractSyncWorker.startWork(AbstractSyncWorker.java:40)
    at com.sap.aii.af.service.event.impl.EventManagerImpl.sendEventAndWaitForAnswer(EventManagerImpl.java:484)
    at com.sap.aii.af.service.event.impl.EventManagerImpl.syncClusterEventReceived(EventManagerImpl.java:418)
    at com.sap.aii.af.service.monitor.impl.ClusterController.receiveWait(ClusterController.java:265)
    at com.sap.engine.core.cluster.MessageListenerWrapper.process(MessageListenerWrapper.java:89)
    at com.sap.engine.core.cluster.impl6.ms.MSListenerThread.run(MSListenerThread.java:53)
    at com.sap.engine.frame.core.thread.Task.run(Task.java:73)
    at com.sap.engine.core.thread.impl5.SingleThread.execute(SingleThread.java:177)
    at com.sap.engine.core.thread.impl5.SingleThread.run(SingleThread.java:295)
Caused by: com.sap.mdm.internal.protocol.manual.ServerException: Error Opening File (0x80020002)

SAP Netweaver MDM scenario using MDM Adapter with SAP Netweaver XI/PI/PO.

KBA , MDM-FN-PI , PI Adapter , Problem