xcode 8 error denied by service delegate (SBMainWorkspace)

Question

Trying to run a build on simulator and I get this error:

The request to open "com.companyname.appname" failed.

The request was denied by

Answer 1

In case anyone is wondering what is meant by "empty settings" that should be unchecked as mentioned in the answer of maricle and in the comment of Vinayak GH At least that is what caused the problem for me.