Blot-off the excess moisture from the chicken with paper towels. Heat up a large skillet over medium heat. In peanut oil and a little butter, sear the chicken thoroughly on both sides. Remove the chicken from the pan and de-grease the skillet. Return the chicken to the pan - and place it in the oven. Turn the chicken pieces periodically. Roast for 16-19 minutes. (While the chicken is roasting, prepare the risotto.)
Heat up a Dutch oven or a large sauce pan over medium heat. Add the butter and bay leaves. When the butter melts, throw in the onions, sweating them down until the onions are clear. Add the Arborio rice - and stir the mixture periodically until the grains are toasted.
Pour in the preheated wine and stir. Add the garlic. Allow the wine to reduce until it is almost dry. Pour in a ladle of preheated stock (about 1/2 cup) to barely cover the rice. Stir. Adjust the heat so that the liquids are just above simmering. From this point on, stirring almost constantly. Repeat adding more stock when the liquid reduces by two thirds. Repeat the stock addition to the rice - until it becomes creamy and al dente (about 20 minutes in total).
When the chicken is finished, remove the chicken from the oven and the chicken from the pan. De-grease the skillet. Add the heavy cream to the risotto. Season the rice with black pepper, cayenne pepper and nutmeg. Cut off the heat. Cover the pan and allow to rest for 5 minutes. De-glaze the skillet in which the chicken cooked with wine. Reduce somewhat (but not to a glaze).
Turn the rice out onto a large serving platter, arrange the chicken over the rice and ladle the wine reduction over the chicken.