I've been encountering this issue for a while after I went through a recovery on my win 7 laptop.
First and foremost let me say panda sucks big panda balls when it comes to working their website. I couldn't find a piece of bamboo in their search results much less an answer to this problem.
I found this. http://www.bitdefender.com/support/removal-tools-(uninstall-tools)-for-common-antivirus-software-1107.html
On this page it has various uninstall tools, use the panda one that says Panda or this: http://www.pandasecurity.com/resources/sop/UNINSTALLER_08.exe
not the cloud one (at least for me this was it). Run it. then re-install panda software-PRESTO