Cut the meat into 4 pieces.
Place beef broth in a large pot over medium-high heat. At first boil, add the meat and cook for 15 minutes. Taste the broth and add more salt and pepper, if necessary. Cover and let it cook for about 2 - 3 hours, or until the meat is fully cooked and tender. As the meat cooks, check the broth levels and add more if needed (the broth should always cover meat).
When the meat is tender and fully cooked, carefully removed it from the pot, place it on a plate, and let it cool. Reserve broth (about 3-4 cups).
Once the meat is cool enough, sheared using two forks or your hands, remove and discard big pieces of fat, if any.
Add the oil to a large skillet over medium heat. When hot, add the onion and pepper and sauté for 3-5 minutes, or until the onion is translucent. Then add garlic and let it cook for 1 more minute.
Stir in shredded beef and mix to combine well.
In a medium bowl, combine tomato paste, tomato sauce, Worcestershire sauce, cumin, oregano, and reserved beef broth; mix well until everything is well combined. Add this mixture to the meat. Add the bay leaves, cover, and cook for 20 -25 minutes, or until most of the liquid has been consumed. Taste and adjust the seasoning, adding more salt and/or pepper, if necessary.
Serve hot with white rice, black beans, and fried plantains if desired.