Same problem for me: upgrading from 2.6.24-23.46 to 2.6.24-23.48 led to the kernel panic message displayed in Pjotr12345's screenshot. Downgrading to 2.6.24-23.46 solved the problem:
$ sudo dpkg -i /var/cache/apt/archives/linux-image-2.6.24-23-generic_2.6.24-23.46_i386.deb
Same problem for me: upgrading from 2.6.24-23.46 to 2.6.24-23.48 led to the kernel panic message displayed in Pjotr12345's screenshot. Downgrading to 2.6.24-23.46 solved the problem:
$ sudo dpkg -i /var/cache/ apt/archives/ linux-image- 2.6.24- 23-generic_ 2.6.24- 23.46_i386. deb