3 Years later and I've just used your solution to fix this problem on my iPhone 5SE. Thanks!
(Weird though, initially iPhoto said there was not enough space available, so I cleared some space, then it did not give any more errors about not enough space and I had 7 GB more free than I needed.)
Me too THANK YOU !!!! 53 min vid on iPad2 that just refused to sync, upload etc and after reading this and drag and drop with image capture I can now fix the corrupted video on my Mac. Cheers