Company: CTRM
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001140361-25-018945
Chunk: 23

Company: Castor Maritime Inc.
Filing Date: 2025-05-14
Form: 20-F
Item: Item 16G
Chunk 23
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Item 16G. Corporate Governance

” for further details on such
exceptions.

As a result, you may not have the same protections afforded to shareholders of companies that are not foreign private issuers.

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Table of Contents

We may be subject to litigation that, if not resolved in our favor and not sufficiently insured against, could have a material adverse effect on us.

We may, from time to time, be involved in various litigation matters. These matters may include, among other things, contract disputes, personal injury claims, environmental
claims or proceedings, asbestos and other toxic tort claims, employment matters, governmental claims for taxes or duties, liabilities arising from performing asset management services and employee misconduct, and other litigation that arises in the
ordinary course of our business.

We cannot predict with certainty the outcome or effect of any claim or other litigation or arbitration matter, and the ultimate outcome of any litigation or arbitration or the
potential costs to resolve it may have a material adverse effect on our business. Insurance may not be applicable or sufficient in all cases and/or insurers may not remain solvent, which could have a material adverse effect on our financial
condition.

A change in tax laws, treaties or regulations, or their interpretation, of any country in which we operate could result in a higher tax rate on our
worldwide earnings, which could result in a significant negative impact on our earnings and cash flows from operations.

We conduct our operations through subsidiaries which can trade worldwide. Tax laws and regulations are highly complex and subject to interpretation. Consequently, we are
subject to changing tax laws, treaties and regulations in and between countries in which we operate, manage assets, provide advisory services, market products, or invest, or in which any of the investors in our investment products are resident. Our
income tax expense, if any, is based upon our interpretation of tax laws in effect in various countries at the time that the expense was incurred. A change in these tax laws, treaties or regulations, or in the interpretation thereof, could result
in a materially higher tax expense or a higher effective tax rate on our worldwide earnings, and such change could be significant to our financial results. If any tax authority successfully challenges our operational structure, or the taxable
presence of our operating subsidiaries in certain countries, or if the terms of certain income tax treaties are interpreted in a manner that is adverse to our structure, or if we lose a material tax dispute in any country, our effective tax rate on
our worldwide earnings could increase substantially. An increase in our taxes could have