International dispute settlement mechanism is experiencing unprecedented challenges and a legitimacy crisis. Efforts for reform have been made by various stakeholders to respond to the public criticism. What are the challenges and opportunities in the international dispute settlement mechanism? This panel discusses a number controversial issues facing international dispute settlement mechanism, from the Covid-19 crisis and investment contracts under the ICSID Convention, to human rights issues arising out of investment treaty arbitration, from corruption and bribery occurring between investors and public officials of host states, to the applicability of New York Convention to investment treaty arbitration awards. It will also explore some of the investor-state dispute settlement (ISDS) reform options, such as dispute prevention mechanisms in ISDS and its implications for legal pluralism.