Hello there .
Well according to a manual,
Sounds like the Hard Drive is faulty.
"ERROR OCCURRED. PLEASE TURN UNIT OFF, THEN TURN ON AGAIN." is displayed.
The unit has automatically detected an error. Restart
the unit by turning the power off and on.
The power will be turned off in about 1 minute if the
power is not turned off and on.
Repair is needed if it is repeatedly displayed even if it is restarted. Detach the power connected, contact consumer support. ( Do not attempt to repair the unit by yourself
.....why not try a FORMAT of the Hard disk drive which seems to be at fault....nothing to lose friend Worth a try !!!!
Page 142 of this manual http://service.us.panasonic.com/OPERMANPDF/HDCHS700-MUL.PDF