1) Cut the chicken into 8 pieces. Prepare the marinade by combining carrots, onions, tomato, garlic, thyme, bay leaf, parsley sprigs, celery and peppercorns into a mixing bowl. Add the cut chicken and the wine and cognac and drizzle the olive oil over the chicken. Place in refrigerator over night.
2) Remove the chicken from the marinade and pat dry; reserve the marinade and veggies. In a saute pan heat 3 tbl. of butter and 1/4 of olive oil over high heat. Add the chicken pieces and brown on all sides. Drain the veggies from the marinade and add them to the chicken; cook for 3-4 minutes. Add flour and cook for another 2-3 min. Add reserve marinade, season with salt and bring to a boil. Cover and cook in a 425-degree oven for 45-50 minutes
3) Meanwhile glaze the pearl onions in the remaining butter, cook 8 minutes over medium-high seat, and add the mushrooms and bacon and continue to cook until the bacon in crisp. Remove from the heat ans set aside. When the chicken is done, remove from the saute pan, strain the liquid and bring to a boil and skim off the fat. Return chicken to pan, and top with onion mixture.