Cannot access folder "Access Denied"

In cases when you need to access folder, but get "Access Denied" message even when you're logged on as an Administrator, you'll have to take ownership of that folder.
To do this in Windows Server 2003 open folder Properties, select Security tab and click on Advanced button, then hop on Owner tab. Now select user which will be the new owner of this folder and click OK (screenshot).

Links:
http://www.lockergnome.com/windows/2005/10/04/take-ownership-of-a-folder-in-server-2003/