Alfresco 3.2 starts well on the Liferay 5.2.1 including registering portlets. But, navigating to the http://localhost:8080/alfresco/ gives error 500:

java.lang.IllegalStateException: No Factories configured for this Application. This happens if the faces-initialization does not work at all - make sure that you properly include all configuration settings necessary for a basic faces application and that all the necessary libs are included. Also check the logging output of your web application and your container for any exceptions!
If you did that and find nothing, the mistake might be due to the fact that you use some special web-containers which do not support registering context-listeners via TLD files and a context listener is not setup in your web.xml.
A typical config looks like this;
<listener>
<listener-class>org.apache.myfaces.webapp.StartupServletContextListener</listener-class>
</listener>

Note, that web.xml contains this listener.
This blocks not only Alfresco application, but also many actions from the portlets. All the links, that access http://localhost:8080/alfresco/faces/* don't work, but the same time links http://localhost:8080/alfresco/d/* and http://localhost:8080/alfresco/n/* work well.

AntonRy