This error is also returned if a stripe set of MDisks has been specified and one or more of these MDisks does not contain enough free extents to complete the creation of the volume.
In this case, the storage pool reports that it has enough free capacity to create the volume. You can check the free capacity on each MDisk by submitting the command lsfreeextents <mdiskname/ID> . Alternatively, do not specify a stripe set and let the system choose the free extents automatically.