Actualy, The Registrar of record (losing registrar) Cannot deny the transfer if you don't respond to them. it is up to the Gaining registrar to contact you. But if the gaining registrar is unscrupulous, then they can claim contact, and proceded with the transfer.
From the Icann site
"The Registrar of Record may not deny a transfer request solely because it believes that the Gaining Registrar has not received the confirmation set forth above."
"Instances when the requested change of Registrar may not be denied include, but are not limited to:
- Nonpayment for a pending or future registration period
- No response from the Registered Name Holder or Administrative Contact."
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