After some investigation, it looks like there is a bit of an upgrade problem here. I’ve attached the section from the DIV that reveals the issue. A quick fix would be to do the following:
1. Edit app/design/adminhtml/default/default/template/sales/order/create/billing/method/form.phtml
2. On Line 28, add:
Although this resolves the issue you should look into why the upgrade failed. In our case it had to do with the folder permissions.
Click thumbnail to see full-size image