FS has no problem with ships having no debris chunks defined. It does have a problem if something is broken about the debris, which can cause it to crash when trying to display them. The most likely suspect is a bit of bad geometry, which is certainly not uncommon in debris making processes.

Try removing all debris chunks from the COB/SCN file you made (assuming you converted using PCS2?) and reconvert and test. If you've entered POF data in your current model, make a backup of it so that you can import that data into your new version once you sort out the issue.
If that version works fine, try adding the debris chunks one or two at a time to figure out which one is broken and then see if you can find the error on it.
If you still can't find the problem, post the model and I'll take a look.
