That directory was only just installed earlier in the installation, so if it suddenly doesn't exist now then it's either a problem with your hard disk or a kernel bug.
That said, I've made ubiquity ignore this error for the next release.
** Changed in: ubiquity (Ubuntu)
Status: Unconfirmed => Rejected
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Installer crashed when installing to external USB drive
https://launchpad.net/bugs/57328
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