package initramfs-tools 0.99ubuntu13 failed to install/upgrade: subprocess installed post-installation script returned error exit status 1

While trying to install Remastersys along with its dependency (busybox and live-initramfs) installation crashed when it was setting up initramfs-tools.

dpkg died with an error code 1

update-rc.d: warning: live-initramfs start runlevel arguments (none) do not match LSB Default-Start values (1 2 3 4 5)
Processing triggers for initramfs-tools ...
update-initramfs: Generating /boot/initrd.img-3.2.0-23-generic-pae
cp: cannot stat `/lib/libacl*': No such file or directory
E: /usr/share/initramfs-tools/hooks/live failed with return 1.
update-initramfs: failed for /boot/initrd.img-3.2.0-23-generic-pae with 1.
dpkg: error processing initramfs-tools (--configure):
 subprocess installed post-installation script returned error exit status 1
Setting up remastersys (2.0.18-1) ...
Errors were encountered while processing:
 initramfs-tools
E: Sub-process /usr/bin/dpkg returned an error code (1)

lsb_release -rd
Description: Ubuntu 12.04 LTS
Release: 12.04

ProblemType: Package
DistroRelease: Ubuntu 12.04
Package: initramfs-tools 0.99ubuntu13
ProcVersionSignature: Ubuntu 3.2.0-23.36-generic-pae 3.2.14
Uname: Linux 3.2.0-23-generic-pae i686
ApportVersion: 2.0.1-0ubuntu7
Architecture: i386
Date: Tue May 8 22:37:23 2012
ErrorMessage: subprocess installed post-installation script returned error exit status 1
InstallationMedia: Ubuntu 12.04 LTS "Precise Pangolin" - Release i386 (20120423)
PackageArchitecture: all
SourcePackage: initramfs-tools
Title: package initramfs-tools 0.99ubuntu13 failed to install/upgrade: subprocess installed post-installation script returned error exit status 1
UpgradeStatus: No upgrade log present (probably fresh install)