Fortunately I also had my old environment where it worked (I meanMmaven 2.0.9). I noticed that the full build takes over 2 minutes while on the new Maven I get the timeout after 1 minute and few seconds. This way I realized that maybe increasing the timeout value will help. IT DID!!!
So how to do this? It's simple - just add:
<servers> <server> <id>someId</id> <username>blahblah</username> <password>blahblah</password> <configuration> <timeout>120000</timeout> <!-- your timeout in milliseconds --> </configuration> </server> ...in the MAVEN_HOME/conf/settings.xml file and restart your Maven task.