You may get this error message when trying to open a MDE built from a
Record(s) can't be read; no read permissions on 'MsysModules2'
This problem occurs because only the owner of the MDE file or a member of
the Admins group when the MDE file was created can successfully open an MDE
file created from a secured database that contains modules.
For more details and a workaround, look at this Knowledge Base article.