My stack is pretty much identical to yours ... so I'm going to take a picture in the dark here.
If you go to the build phase that you specified in Team City to run NUnit and find the .NET Runtime section and make sure that the platform is set to "auto (MSIL)" and, most importantly, make sure the version is installed on v4.0 .
I saw your exact error when trying to run unit tests for project 4.0 with environment 2.0 setup.
If this is not the case, I would suggest checking permissions for directories and that the system or network service accounts that, in my opinion, work in the city of the team (unless otherwise indicated), can access the directory in which your file is located tests.dll.
Ian Patrick Hughes
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