Hello I read the chain with interest since I have been fighting the same issue on my machine. What is interesting (at least to me) is that I am running a much older release of Ubuntu Lucid with a 2.6.32-71 kernel. I¹m not in the habit of rebooting very often so this issue may have existed for a while; however it encountered it yesterday. Like others I was able to proceed by issuing vgchange ay command; however I did have to create /var/log in the Busybox environment before that would work.
I eagerly await a resolution Regards Nick