FTP server responds with "500 OOPS: vsf_sysutil_bind" to active mode requests

Issue

FTP requests in active mode fail with the message 500 OOPS: vsf_sysutil_bind and then 500 OOPS: priv_sock_get_result and ftp: bind: Address already in use and finally 421 Service not available, remote server has closed connection when the request is repeated.

 ftp -A 172.16.1.200
Connected to 172.16.1.200 (172.16.1.200).
220 (vsFTPd 2.2.2)
Name (172.16.1.200:ndavids): 
331 Please specify the password.
Password:
230 Login successful.
Remote system type is UNIX.
Using binary mode to transfer files.
ftp> ls
200 PORT command successful. Consider using PASV.
500 OOPS: vsf_sysutil_bind
ftp> ls
500 OOPS: priv_sock_get_result
ftp: bind: Address already in use
ftp> ls
421 Service not available, remote server has closed connection
ftp>