Gparted - crash Failed to execute /init (error -28), resize2fs: New size smaller than minimum

S
When booting Gparted on VirtualBox the boot process halted with the following errors:

Failed to execute /init (error -28)
Starting init: /sbin/init exists but it couldn't execute it (error -28)
Kernel panic - not syncing: No working init found. Etc.

What  found whas that temporarily rising the RAM from 128 MB to 256 MB for this virtual machine solved the problem. More RAM seems needed is the conclusion.

When shrinking an ext4 partition using Gparted I got the following error:
resize2fs: New size smaller than minimum (NNNNNN...)

It seems like resize2fs miscalculates sizes in some way.
What worked was to copy the NNNNN value that resize2fs says is the minimum, and then go by that:
resize2fs /dev/yourdevice NNNN

This will only resize the data, not the container partition, so when viewing it with Gparted you
will get an exclamation mark.

To fix this things get dangerous as you need to recreate the surrounding partition, see this page:
http://geekpeek.net/resize-filesystem-fdisk-resize2fs/

In short for a disk for one single partition:
fdisk /dev/yourdevice
Then do:
p
d
w

You now have deleted the partition.

You then recreate it:
fdisk /dev/yourdevice
n
Partition number (1-4): 1 or press enter
First cylinder (1-130, default 1): press enter
Using default value 1
Last cylinder, +cylinders or +size{K,M,G} (1-130, default 130): +200M <-- this line tells how big the container should be

If you create a too small partition Gparted will give an exclamation mark about unreadable file system, otherwise it will just complain about enlarging actions.

After doing this you may check the partition using Gparted or fsck.