Conversion is still not inevitable, with no shares able to convert I would think this still would go towards a cash settlement. An automatic motion for dismissal was a long shot. A judge can't order HJOE to relist.
They will have to show what they have currently been paid/made and then figure out just how much more they should make.
The motion was always a 2% chance. It will be interesting seeing how much they believe they deserve and whether they want the books opened up to see how much they made. I would find it hard to believe they want the court system inside their books.
It is about to get interesting, I think the delays are over with that decision, we will get one more while people get their shit in order and see what they really want exposed.