Update causes mac to freeze during startup

incito

Bit poster
I updated parallels 7 yesterday as prompted to do so.

After restarting the machine it now fails to boot.

booting the machine in verbose mode reveals that the machine hangs after the following processes:

com.parellels.kext.vnic 7.0.15054.722853 has started
MEDetect: PASSED - ME_INTERNAL_STATUS: 0xfred1f338 = 2

Is this a know issue with the recent update and is there a soution?
 
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