Preheat oven to 375 degrees. Butter a 9-by-11-inch baking dish and set aside.
Drain oysters, reserving liquor; set aside.
Heat oil in a large skillet over medium-high heat. Add onions, bell peppers, celery, salt, Emeril's Essence, and cayenne; cook, stirring, until soft, about 5 minutes. Add bay leaves, garlic, and parsley; cook, stirring, for 1 minute. Add 1 cup water and cook, stirring constantly, 2 to 3 minutes. Remove from heat.
In a large bowl, combine vegetable mixture with oysters and their liquor, scallions, bread, and cheese. Stir until well combined. Pour mixture into prepared baking dish and bake until golden brown and bubbly, 30 to 40 minutes. Remove bay leaves before serving.
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