In a large bowl add chicken, red wine, salt and pepper, bay leaf and thyme. Ensure your chicken is covered.
Cover the bowl with plastic wrap and place in the fridge overnight (12-24hrs is ideal).
The next day, remove the chicken from the wine and pat each piece dry with a paper towel. Reserve 2 cups of the wine for your stew.
Preheat your oven to 180ºC. In your cast-iron pan, add pancetta lardons and cook over a low to medium heat for 10 minutes to render out the fat. Using a slotted spoon, scoop out and set aside on paper towel.
Cook your chicken pieces, skin side down until crispy before flipping and cooking on the other side for 2-3 minutes. Cook chicken in batches so as to not overcrowd the pan. Chicken does not need to be cooked through. Once all pieces are browned, set aside.
Turn heat up to medium high. Add onions, mushrooms and carrots to rendered fat. Sauté for 3-5 minutes until softened.
Add garlic and tomato paste and cook off for a further minute.
Pour in brandy and allow to cook off for one minute. Sprinkle over flour and stir, cooking off for one minute.
Pour in two cups (500mL) of the reserved red wine marinade and 1 cup of chicken stock. Stir well, scraping up any brown bits on the bottom of the pan.
Add chicken back in and pancetta lardons. Cover pot with lid and place into the oven for 45 minutes.
Serve coq au vin with mashed potato or egg noodles. Sprinkle stew with parsley.