pageoneresults - 5:13 pm on Mar 13, 2006 (gmt 0) [icann.org...]
Well, according to ICANN, there are strict procedures in place if this were to occur.
j. Ensure that the registrar's obligations to its customers and to the registry administrator will be fulfilled in the event that the registrar goes out of business, including ensuring that SLD holders will continue to have use of their domain names and that operation of the Internet will not be adversely affected. Accredited registrars would also be required to keep comprehensive records concerning their dealings with customers, subject to inspection by ICANN, so that in the event a registrar went out of business or lost accreditation these records could be transferred to a successor registrar in as orderly a manner as possible. The "fat" or "thick" registry model also minimizes the risk to the end user (the SLD holder). The domain information is now stored in the registry database, so should the registrar the SLD holder is operating with goes out of business, then the SLD holder domain information is secured with the Registry, where they can transfer the domain to another operational registrar.