Composite Project issues

Hi,

After going thru couple of latest issue topics , still I couldn't find the appropriate resolution for following issue. request SoapUI team to take a look.
I recently moved to 5.1 version SoapUI Pro and I am unable to open existing Composite projects in latest version, where as I am able to open the same without any issues in SoapUI Pro old versions (4.5.2).

13:19:56,444 INFO [WorkspaceImpl] Loading workspace from [C:\Users\dvallabhuni\default-soapui-workspace.xml]
13:20:00,019 INFO [WsdlProject] Loaded project from [file:/C:/dev/SoapUI/SystemsIntegrationGeneric/settings.xml]
java.lang.NullPointerException
at com.eviware.soapui.impl.support.loadsave.CompositeProjectSaver.a(SourceFile:782)
at com.eviware.soapui.impl.support.loadsave.CompositeProjectSaver.b(SourceFile:745)
at com.eviware.soapui.impl.support.loadsave.CompositeProjectSaver.b(SourceFile:728)
at com.eviware.soapui.impl.support.loadsave.CompositeProjectSaver.load(SourceFile:674)
at com.eviware.soapui.impl.support.wsdl.UrlWsdlLoaderPro.handleFile(SourceFile:27)
at com.eviware.soapui.impl.wsdl.support.wsdl.UrlWsdlLoader.load(UrlWsdlLoader.java:116)
at com.eviware.soapui.impl.wsdl.support.wsdl.UrlWsdlLoader.load(UrlWsdlLoader.java:96)
at com.eviware.soapui.impl.wsdl.WsdlProjectPro.loadProject(SourceFile:192)
at com.eviware.soapui.impl.wsdl.WsdlProject.<init>(WsdlProject.java:220)
at com.eviware.soapui.impl.wsdl.WsdlProject.<init>(WsdlProject.java:201)
at com.eviware.soapui.impl.wsdl.WsdlProjectPro.<init>(SourceFile:170)
at com.eviware.soapui.impl.wsdl.WsdlProjectProFactory.createNew(SourceFile:36)
at com.eviware.soapui.impl.wsdl.WsdlProjectProFactory.createNew(SourceFile:16)
at com.eviware.soapui.impl.WorkspaceImpl.importProject(WorkspaceImpl.java:340)
at com.eviware.soapui.impl.actions.ProImportWsdlProjectAction.perform(SourceFile:43)
at com.eviware.soapui.impl.actions.ProImportWsdlProjectAction.perform(SourceFile:15)
at com.eviware.soapui.support.action.swing.SwingActionDelegate.actionPerformed(SwingActionDelegate.java:89)
at javax.swing.AbstractButton.fireActionPerformed(Unknown Source)
at javax.swing.AbstractButton$Handler.actionPerformed(Unknown Source)
at javax.swing.DefaultButtonModel.fireActionPerformed(Unknown Source)
at javax.swing.DefaultButtonModel.setPressed(Unknown Source)
at javax.swing.AbstractButton.doClick(Unknown Source)
at javax.swing.plaf.basic.BasicMenuItemUI.doClick(Unknown Source)
at javax.swing.plaf.basic.BasicMenuItemUI$Handler.mouseReleased(Unknown Source)
at java.awt.AWTEventMulticaster.mouseReleased(Unknown Source)
at java.awt.Component.processMouseEvent(Unknown Source)
at javax.swing.JComponent.processMouseEvent(Unknown Source)
at java.awt.Component.processEvent(Unknown Source)
at java.awt.Container.processEvent(Unknown Source)
at java.awt.Component.dispatchEventImpl(Unknown Source)
at java.awt.Container.dispatchEventImpl(Unknown Source)
at java.awt.Component.dispatchEvent(Unknown Source)
at java.awt.LightweightDispatcher.retargetMouseEvent(Unknown Source)
at java.awt.LightweightDispatcher.processMouseEvent(Unknown Source)
at java.awt.LightweightDispatcher.dispatchEvent(Unknown Source)
at java.awt.Container.dispatchEventImpl(Unknown Source)
at java.awt.Window.dispatchEventImpl(Unknown Source)
at java.awt.Component.dispatchEvent(Unknown Source)
at java.awt.EventQueue.dispatchEventImpl(Unknown Source)
at java.awt.EventQueue.access$200(Unknown Source)
at java.awt.EventQueue$3.run(Unknown Source)
at java.awt.EventQueue$3.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.security.ProtectionDomain$1.doIntersectionPrivilege(Unknown Source)
at java.security.ProtectionDomain$1.doIntersectionPrivilege(Unknown Source)
at java.awt.LightweightDispatcher.dispatchEvent(Unknown Source)
at java.awt.Container.dispatchEventImpl(Unknown Source)
at java.awt.Window.dispatchEventImpl(Unknown Source)
at java.awt.Component.dispatchEvent(Unknown Source)
at java.awt.EventQueue.dispatchEventImpl(Unknown Source)
at java.awt.EventQueue.access$200(Unknown Source)
at java.awt.EventQueue$3.run(Unknown Source)
at java.awt.EventQueue$3.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.security.ProtectionDomain$1.doIntersectionPrivilege(Unknown Source)
at java.security.ProtectionDomain$1.doIntersectionPrivilege(Unknown Source)
at java.awt.EventQueue$4.run(Unknown Source)
at java.awt.EventQueue$4.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.security.ProtectionDomain$1.doIntersectionPrivilege(Unknown Source)
at java.awt.EventQueue.dispatchEvent(Unknown Source)
at java.awt.EventDispatchThread.pumpOneEventForFilters(Unknown Source)
at java.awt.EventDispatchThread.pumpEventsForFilter(Unknown Source)
at java.awt.EventDispatchThread.pumpEventsForHierarchy(Unknown Source)
at java.awt.EventDispatchThread.pumpEvents(Unknown Source)
at java.awt.EventDispatchThread.pumpEvents(Unknown Source)
at java.awt.EventDispatchThread.run(Unknown Source)
13:20:12,740 ERROR [SoapUI] An error occurred [Failed to load project from file [file:/C:/dev/SoapUI/Digiman-automation/]], see error log for details
13:20:12,748 INFO [WorkspaceImpl] Saved workspace to [C:\Users\dvallabhuni\default-soapui-workspace.xml]

I tried to install ready API (SoapUI NG Pro) but got into some installation issues while executing ready-api.bat.