Apparently Peter Adkison did say at the ENnies that Gen Con *would* be back next year, so whatever's happening on the issue, at least it's not affecting Gen Con's actual existence.
Lucas sued GenCon, LLC for a dispute over charity proceeds from an auction at one of the Star Wars Celebration conventions.
The actual GenCon convention has never been in any danger of going away. Adkison has said so on many occasions. One of the purposes of them filing for the bankruptcy reorganization was to protect the Convention from the lawsuit.