- In a glass dish or a large sealable plastic bag, combine the chicken pieces, wine and herbs. Cover the dish or seal the bag. Refrigerate for 12 hours or overnight, turning the chicken once or twice. Remove the chicken and pat dry, keeping the marinade. Discard the herbs.
- In a large non-stick skillet over medium-high heat, brown the chicken in 2 tbsp of the butter. Season with salt and pepper. Set aside on a large plate.
- In a large pot or Dutch oven over medium heat, brown the bacon in 1 tbsp of the butter. Add the onion and garlic, and cook for 2 minutes. Add the tomato paste and cook for 1 minute. Deglaze with the Cognac. Add the broth and reserved red wine marinade. Let the sauce reduce by one-third. Add the chicken and bay leaf. Cover and let simmer for 1 hour over medium-low heat or until the meat easily detaches from the bone.
- In a small bowl, combine 2 tbsp of the butter and the flour until smooth. Set aside.
- In the same skillet used to brown the chicken, over medium-high heat, brown the mushrooms and pearl onions in the remaining butter. Season with salt and pepper. Set aside.
- With a slotted spoon, remove the chicken and bacon from the sauce. Set aside on a large plate. Bring the sauce to a boil over medium heat. Stir in the butter-flour mixture with a whisk until the sauce has thickened. Return the chicken and bacon to the sauce. Add the reserved mushrooms and pearl onions, and let simmer for 5 minutes. Adjust the seasoning. Sprinkle with the parsley.