Cannot open transaction log file -- %1

Error constant SQLE_CANNOT_OPEN_LOG
ODBC 2 State 08003
ODBC 3 State 08003
Parameter 1 Reason why transaction log file cannot be opened.
Severity 16
SQLCODE –106
SQLSTATE 08W05
Sybase error code 2561
Probable cause

The database server was unable to open the named transaction log file. The log file name may include an invalid device or directory. If this is the case, you can use the Transaction Log utility (dblog) to find out where the transaction log should be and perhaps change it.