Comment 1 for bug 947988

could you try this patch (regenerate your initrd after applying it to /usr/share/initramfs-tools/scripts/local-premount/fixrtc):

--- /usr/share/initramfs-tools/scripts/local-premount/fixrtc 2010-04-26 16:59:13.000000000 +0200
+++ fixrtc 2012-03-06 14:47:49.580000000 +0100
@@ -50,12 +50,19 @@
 done

 if [ -n "$BROKEN_CLOCK" -a -n "$ROOTDEV" ];then
- ROOTDISK=$(readlink -f "$ROOTDEV") &&
+ ROOTDISK=$(readlink -f "$ROOTDEV")

- TIMESTR=$(dumpe2fs -h "$ROOTDISK" 2>/dev/null|grep "Last mount time") &&
- TIME=${TIMESTR#*:} &&
+ TIMESTR=$(dumpe2fs -h "$ROOTDISK" 2>/dev/null|grep "Last mount time")
+ TIME=${TIMESTR#*:}

- date --set="${TIME} 1 minute" >/dev/null 2>&1
+ hwclock -s
+
+ MOUNTTIME=$(date --utc --date "${TIME}" +%s)
+ CURDATE=$(date --utc --date "$(date)" +%s)
+
+ if [ "$MOUNTTIME" -gt "$CURDATE" ]; then
+ date --set="${TIME} 1 minute" >/dev/null 2>&1
+ fi
 fi

 # This script is best-effort. If we couldn't fudge the clock as desired,