Undo conversion from topic to PM as a moderator?

Moderators don’t have access to PMs unless they are flagged.

So now the only people who have access to the PM are

  • the people in the PM (the original participants in the topic)
  • admins

You’ll need an admin at this point, or you could get one of the participants to flag the PM. As long as the flag is active you’ll have access.