There is no official word from the Administration here or the developers BUT from what we can see so far no the server cannot be shut down. The server isn't in America so it's not subject to American law only Canadian Laws and I believe it's in a special part of Canada in Quebec where they have different copyright laws n such.
The people who run it are out of the Republic of Tonga which don't recognize copyright laws at all so XL or TRION can issue all the DMCA's they want it won't get recognized and will just be ignored. If the server is ever taken down it won't be hard for them to just re-implement the server again because they'll still have all their backups of the data only difference is the server would be in a new location. I don't think the server will go anywhere because even tho TRION has the rights in NA and parts of EU they don't have any control in Canada and the only person who could really push for something would be XL Games and I don't think they really care.