I removed the files that were dated at 03/06/2009, and reinstalled the ALWIN update that was applied on 3/06/2009, the DICT folder now listed as this:

08/10/2006 11:02 AM 21,504 $L65AI.ssi
08/10/2006 11:02 AM 258,392 $L65AR.ssi
09/27/2007 01:17 PM 11,264 @@81AI.ssi
09/27/2007 01:17 PM 134,492 @@81AR.ssi
01/14/2003 01:24 PM 69,120 @B65AI.SSI
06/07/2005 05:08 PM 951,392 @B65AR.SSI
01/14/2003 01:26 PM 62,464 @I65AI.SSI
01/14/2003 01:26 PM 827,072 @I65AR.SSI
09/28/2004 04:19 PM 68,096 @I68BI.ssi
09/19/2005 02:00 PM 908,972 @I68BR.ssi
03/09/2009 04:57 PM 95,744 @I80AI.ssi
03/09/2009 04:57 PM 1,319,732 @I80AR.ssi
10/13/2006 01:29 PM 56,320 @J68BI.ssi
10/13/2006 01:29 PM 761,552 @J68BR.ssi
11/16/2004 11:14 AM 2,048 @K68ZI.ssi
11/16/2004 11:14 AM 20,672 @K68ZR.ssi
01/14/2003 01:30 PM 33,280 @L65AI.SSI
01/14/2003 01:30 PM 462,092 @L65AR.SSI
01/17/2003 12:18 PM 34,304 @L68BI.SSI
01/17/2003 12:18 PM 477,212 @L68BR.SSI
05/08/2006 03:10 PM 36,864 @L80AI.ssi
03/21/2007 12:09 PM 517,112 @L80AR.ssi
05/14/2009 12:35 PM 56,832 @L90AI.ssi
05/14/2009 12:35 PM 770,372 @L90AR.ssi
03/13/2003 05:20 PM 95,232 @N65AI.SSI
03/14/2003 12:28 PM 1,290,332 @N65AR.SSI
08/26/2004 12:04 PM 95,744 @N68BI.ssi
08/26/2004 12:04 PM 1,327,292 @N68BR.ssi
03/13/2003 02:22 PM 105,984 @O65AI.SSI
03/13/2003 02:22 PM 1,424,312 @O65AR.SSI
08/26/2004 12:44 PM 105,472 @O68BI.ssi
08/26/2004 12:44 PM 1,460,012 @O68BR.ssi
11/13/2003 03:19 PM 58,880 @R65AI.SSI
12/15/2003 11:04 AM 819,092 @R65AR.SSI
04/25/2008 03:50 PM 88,064 @R80AI.ssi
05/05/2008 02:12 PM 1,208,432 @R80AR.ssi
06/23/2008 11:55 AM 95,744 @R80BI.ssi
06/23/2008 11:55 AM 1,338,212 @R80BR.ssi
03/19/2009 04:42 PM 131,072 @R90AI.ssi
03/19/2009 04:42 PM 1,824,992 @R90AR.ssi
06/09/2009 11:04 AM 0 dir.txt
11/17/2004 11:30 AM 1,024 EZ61AI.SSI
11/17/2004 11:30 AM 5,972 EZ61AR.SSI
01/15/2003 02:18 PM 11,264 JC61AI.SSI
01/15/2003 02:18 PM 140,372 JC61AR.SSI
01/15/2003 02:30 PM 8,704 LW60CI.SSI
01/15/2003 02:30 PM 102,152 LW60CR.SSI
01/15/2003 03:56 PM 31,744 LW66AI.SSI
01/15/2003 03:56 PM 411,692 LW66AR.SSI
06/26/2003 02:39 PM 3,584 MC61AI.SSI
06/09/2005 07:33 PM 21,512 MC61AR.SSI
01/15/2003 04:09 PM 3,584 QH61DI.SSI
01/15/2003 04:09 PM 29,492 QH61DR.SSI
01/15/2003 04:12 PM 1,024 SA60AI.SSI
01/15/2003 04:12 PM 5,552 SA60AR.SSI

It looks like the file dates have been corrected. But it still gives out the invalid path to data dictionary error.

*** Edited ***

I uninstalled Receivable 9.0A and reinstalled it, this time it was able to convert the database. It looks like the Ledge update was the cause of the problem.