Unable to start sp_cop and launching sp_ctrl results in "Default port could not be retrieved from (4330743)

The sp_cop fails to start and you see the following errors in event_log:

12/13/06 11:37 System call error: Can't assign requested address bind: fd 5 [sp_cop(rmp)/23033]
12/13/06 11:37 Error: Parameter database initialization failed - exiting [sp_cop/23033]
12/13/06 11:37 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/23742]
12/13/06 11:38 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/26452]
12/13/06 11:40 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/873]
12/13/06 11:40 System call error: Can't assign requested address bind: fd 3 [ora_setup(rmp)/987]
12/13/06 11:40 Notice: Oracle env - ADD1:/local/apps/oracle/product/9.2.0.5 [ora_setup(pdb)/987]
12/13/06 11:41 Parameter was changed : Param=SP_ORD_LOGIN_O.ADD1, Old Value=77bff9a39a1153b7c15c0628da845f96, New Value=77bff9a39a1153b7c15c0628da845f96
12/13/06 11:41 Parameter was changed : Param=SP_ORD_OWNER_O.ADD1, Old Value=SPLEX2699, New Value=SPLEX2699
12/13/06 11:41 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/2181]
12/13/06 11:42 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/3598]
12/13/06 11:45 System call error: Can't assign requested address bind: fd 3 [sp_ctrl(rmp)/9817]

When launching sp_ctrl, you see the error "Default port could not be retrieved from paramdb"