This event records that a duplicate IP address has been observed, with conflict between VM, and the vmotion or IP storage interface configured on the host.
Virtual machine has a duplicate IP.
No two network entities of any type should ever share the same IP address if they are on the same network. Check network records, and ensure that DHCP/DNS has not handed out the same IP to two network objects.
Refer to the VMware Online Documentation for more information.