Inserting USB stick causes udev to enter infinite loop and not display in file manager

Binary package hint: udev

After insertion of a U3 USB memory stick which should result in the contents being shown in the graphical file manager the display doesn't appear and udev starts taking a large amount of CPU. Attaching strace seems to show that that daemon is looping, log attached. Manually mounting the USB device works fine and the contents can be accessed.

ProblemType: Bug
DistroRelease: Ubuntu 11.04
Package: udev 167-0ubuntu3
ProcVersionSignature: Ubuntu 2.6.38-10.44-generic 2.6.38.7
Uname: Linux 2.6.38-10-generic i686
Architecture: i386
CustomUdevRuleFiles: 85-ica-usb.rules 01-ica-usb.rules 70-lego.rules
Date: Sun Jun 19 07:50:56 2011
MachineType: SAMSUNG ELECTRONICS CO., LTD. NC10/N110
ProcEnviron:
 LANGUAGE=en_GB:en
 PATH=(custom, user)
 LANG=en_GB.UTF-8
 SHELL=/bin/bash
ProcKernelCmdLine: BOOT_IMAGE=/boot/vmlinuz-2.6.38-10-generic root=UUID=df8b49ff-d64d-4f59-a140-823c9a7281f2 ro quiet splash vt.handoff=7
SourcePackage: udev
UpgradeStatus: Upgraded to natty on 2011-04-20 (59 days ago)
dmi.bios.date: 04/13/2009
dmi.bios.vendor: Phoenix Technologies Ltd.
dmi.bios.version: 04D0.M002.20090413.KTW
dmi.board.name: NC10/N110
dmi.board.vendor: SAMSUNG ELECTRONICS CO., LTD.
dmi.board.version: Not Applicable
dmi.chassis.asset.tag: No Asset Tag
dmi.chassis.type: 10
dmi.chassis.vendor: SAMSUNG ELECTRONICS CO., LTD.
dmi.chassis.version: N/A
dmi.modalias: dmi:bvnPhoenixTechnologiesLtd.:bvr04D0.M002.20090413.KTW:bd04/13/2009:svnSAMSUNGELECTRONICSCO.,LTD.:pnNC10/N110:pvrNotApplicable:rvnSAMSUNGELECTRONICSCO.,LTD.:rnNC10/N110:rvrNotApplicable:cvnSAMSUNGELECTRONICSCO.,LTD.:ct10:cvrN/A:
dmi.product.name: NC10/N110
dmi.product.version: Not Applicable
dmi.sys.vendor: SAMSUNG ELECTRONICS CO., LTD.