Hi Steve,
I've got exactly the same problem. I see "BUG in libdispatch" and then continuous "could not allocate mach port". I also checked the server stats and see the CPU jump to over 50%. All network connectivity also stops at the same time as well.
From system.log
Aug 27 00:02:59 MacMini configd[62]: BUG in libdispatch: 15G31 - 384 - 0x1000600c
Aug 27 00:02:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:03:29 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:03:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:04:29 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:04:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:05:29 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:05:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:06:29 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:06:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:07:29 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:07:59 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:08:30 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:09:01 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Aug 27 00:09:31 MacMini configd[62]: could not allocate mach port: (os/kern) no space available
Currently looking into the libdispatch problem, will let you know if I come across a solution.
It's only just started happening in the last few weeks (months?). I've noticed I need to reset the server (MacMini), but only just started looking into the problem
Mark.