Combine the chicken, soy sauce, vinegar, garlic, ginger, bay leaves and peppercorns in a Dutch oven. Bring to a boil over medium heat. Once it boils, reduce heat to a simmer. Cover the pot and simmer for 30 minutes, basting the chicken occasionally. After 30 minutes, remove lid and cook until liquid has reduced to half.
Remove chicken from the pot to a serving plate. Strain the liquid from the pot to remove all the food particles, and set aside. Serve chicken hot over steamed rice and drizzle with reserved sauce.