Place chicken in a large bowl, and add wine. Cover, and refrigerate overnight.
Preheat oven to 325 degrees. Remove chicken from wine, and pat dry; reserve wine. Season chicken with salt and pepper.
Cook bacon in a Dutch oven over medium-low heat until crisp, about 20 minutes. Transfer bacon to a plate, leaving drippings in pot. (You should have 3 tablespoons; you may need to add oil.)
Raise heat to medium-high. Working in batches, cook chicken, flipping once, until golden, 4 to 5 minutes per side. Transfer to a plate. Add onion to pot, and cook 4 to 5 minutes. Add garlic, and cook 2 minutes. Add pearl onions and mushrooms, and cook until brown, 3 to 4 minutes. Stir in flour and tomato paste, and cook 2 minutes. Add Cognac, and cook, stirring, 1 minute.
Return bacon and chicken to pot. Pour in reserved wine, and add chicken liver and herbs. Bring to a simmer. Cover, and place in oven until chicken has cooked through and vegetables are tender, 45 minutes to 1 hour. Discard herbs, and skim fat from surface.