Jamaica Broilers Group (JBG) President and Chief Executive Officer (CEO) Chris Levy has declared that no option is being ruled out in the pursuit of recovering billions of dollars lost in a multi-year fraud at its United States (US) meat division, signalling potential legal action against those responsible.

This stance comes as the company, now stabilised by a new management team and a pending $24-billion refinancing deal, shifts focus to repairing its balance sheet and seeking redress for the scandal that forced $46 billion in adjustments.

“That’s a very difficult question to answer at this point. We’re talking very big numbers… I do feel that our attorneys and our advisors will be a little more focused on that now. No option is off the table,” Levy stated in response to direct questions about recovering the losses.

While cautious not to detail all sensitive legal strategies, Levy did highlight one concrete avenue for financial recovery— tax opportunities stemming from the massive losses. The company has already quantified the potential benefit and is moving to restate its tax positions.

“We do feel that there are some tax opportunities that we’ll be able to realise,” Levy confirmed, though he noted that the process would involve complex negotiations with tax authorities.

This pursuit of recovery follows what executives described as a “coordinated and deliberate” effort by the former US operations leadership to hide costs and inflate profits, a scheme that unravelled after a whistleblower came forward. Senior Vice President Ian Parsard, who has responsibility for finance and corporate planning, provided scale to the potential upside, indicating that the company is looking at “close to $30 billion” in potential tax credits.

“If we’re able to realise a third of it, a $10 billion shot to our shareholders’ equity would be a very, very significant number,” Parsard explained, while acknowledging the complexity of utilising them fully.

The drive to recoup funds is a critical component of rebuilding JBG’s shattered shareholder equity, a project that recently received a $40-billion boost from a revaluation of its Jamaican assets. This multi-pronged effort aims to restore investor confidence after the scandal erased the company’s equity base.

Levy assured stakeholders that the internal investigation is complete, famously declaring, “Yes. The closet is clean. All skeletons have been removed.” However, the external mission to seek justice and financial recompense is now squarely in focus, setting the stage for a potentially protracted next chapter in the JBG fraud saga.