Error in Android Studio Build (version 1.2.1.1) and Gradle (version 1.2.3) - android-gradle-plugin

Question

Since upgrading to AS 1.2.x I cannot build my project.
Every time I build (or clean or Invalidate Caches/Restart) I get the following error message:
My gradle build files are as follows:
// Top-level build file where you can add configuration options common to all sub-projects/modules.
buildscript {
repositories {
jcenter()
}
dependencies {
classpath 'com.android.tools.build:gradle:1.2.+'
// NOTE: Do not place your application dependencies here; they belong
// in the individual module build.gradle files
}
}
allprojects {
repositories {
jcenter()
}
}
apply plugin: 'com.android.application'
android
{
signingConfigs {
config { keyAlias 'ScoularAndroidKey'
keyPassword 'password'
storeFile file('C:/Users/bschmiedeler/.AndroidStudio/scoularkeystore.jks')
storePassword 'password'
}
}
name="Scoular"
compileSdkVersion 21
buildToolsVersion "21.1.2"
defaultConfig {
applicationId "com.scoular.scoular"
minSdkVersion 15
targetSdkVersion 21
versionCode 1
versionName "1.0.0"
}
buildTypes {
release {
minifyEnabled false
proguardFiles getDefaultProguardFile('proguard-android.txt'), 'proguard-rules.pro'
signingConfig signingConfigs.config
}
debug{
debuggable true
}
}
}
dependencies {
compile fileTree(include: ['*.jar'], dir: 'libs')
compile files('libs/commons-lang-2.3.jar')
compile 'com.android.support:appcompat-v7:21.0.3'
compile 'com.android.support:support-v4:21.0.3'
compile 'com.google.android.gms:play-services:6.5.87'
compile files('src/main/assets/library-1.0.10.jar')
}
Any help would be greatly greatly appreciated.