Connecting via ODBC gives "Insufficient memory to continue the execution of the program." (4232431)

When I tried to connect via ODBC (i.e. Firebird/Interbase, Vertica), I get the following error. This even occurs when returning limited rows and memory is not expected to be an issue. 

System.OutOfMemoryException
Insufficient memory to continue the execution of the program.
Stack Trace:
at System.Runtime.InteropServices.Marshal.AllocHGlobal(IntPtr cb)
at Quest.Toad.NativeOdbc.UnManagedColumnDescriptor..ctor(Int16 columnIndex, String columnName, SQL_DATA_TYPES sqlDataType, Int32 columnSize, Int16 decimalDigits, Int16 nullable)
at Quest.Toad.NativeOdbc.OdbcDriverManager.ObtainResultSet(OdbcHandle statementHandle, String tableName)
at Quest.Toad.NativeOdbc.NativeOdbcConnection.GetTables(String SchemaName, TableTypes type)
at Quest.Toad.Odbc.Scheme.TableList.TableListTrl.get_BackgroundData()
at Quest.Toad.Trl.BackgroundCachedTrl.get_GenerateData()
at Quest.Toad.Trl.CachedTrl.get_Data()
at Quest.Toad.Odbc.Scheme.TableList.TableListTrl.GetTrls()
at Quest.Toad.Odbc.Scheme.TableList.TableListTrl.GetFilteredTrls(FilterInfo info)
at Quest.Toad.DatabaseBrowser.ObjectPaletteControl.ReadTrl(ITrl trl)
at Quest.Toad.DatabaseBrowser.ObjectPaletteControl.updateContentTimer_Tick(Object sender, EventArgs e)
at System.Windows.Forms.Timer.OnTick(EventArgs e)
at System.Windows.Forms.Timer.TimerNativeWindow.WndProc(Message& m)
at System.Windows.Forms.NativeWindow.Callback(IntPtr hWnd, Int32 msg, IntPtr wparam, IntPtr lparam)