Error loading setting from Project

I am converting a large number of projects from Delphi 7 to Delphi 2009.

When I try to do a finalbuilder build using the Compile Delphi Win32 Project action I get an error message: ``Error loading settings from project``. If I then open the project in Delphi 2009 and simply save the project, then try again in FinalBuilder I do not get the message. Comparing the CFG and DOF files I see no differences. 

As there are a large number of projects (more than 300) loading each and then saving them is not something I would like to do. Where is the error coming from and how do I get around it